According to the digital bank, Trust Lock is less “cumbersome than current solutions in the market which require customers to physically visit a bank brand or ATM to access their funds”.
At least $1.1 billion was lost to scams last year, according to the Singapore Police Force. One of the ways fraudsters steal money is by taking control of victims’ mobile devices through malware injections and phishing scams.
To address this, Trust Bank has launched Trust Lock, an anti-scam tool that allows consumers to easily lock and unlock their money via the bank’s mobile app.
