Singtel launches Singverify to combat phishing scams
This comes after Singapore reported over 6,000 scams in 2023.
Singtel has launched SingVerify, a suite of solutions that authenticates digital identities registered on consumer services or platforms against telco data, with the aim of mitigating scams from phishing and malware installation.
The service offers a multi-factor authentication process where consumer’s digital identities are directly verified between telco and service providers. Telco networks will be able to secure digital identities as a direct authentication solution, according to Singtel.
According to the Singapore Police Force, a total of $651.8m was lost to scam cases in 2023.
50,376 scam cases were recorded in 2023, a 49.6% increase from 2022. Phishing scams comprise 12.8% of all scam cases.
SingVerify will launch in the Number Verify app, and that will validate identities by matching an individual’s phone number with their account details registered on the service provider’s platform.
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