Singapore Banks to Phase Out OTPs for Online Logins Within 3 Months

Singapore regulators are requiring retail banks to phase out SMS/OTP authentication within three months and push customers to use digital tokens to reduce phishing and OTP-stealing fraud; the report highlights active threats such as OTP bots (marketed via Telegram), banking trojans, large-scale phishing kits (FishXProxy, V3B) that use HTML smuggling, cookie-based tracking and anti-bot techniques, and notes Google’s pilot to limit sideloaded Android apps that read OTPs.