Debated in Parliament on 8 Jan 2025.
Mr Don Wee asked the Prime Minister and Minister for Finance (a) what safeguards and regulations will MAS be implementing in order to address public concerns about the potential misuse of personal data, including NRIC numbers, under the Personal Data Protection Commission's advisory guidelines to be updated to align with the Government's new policy intent; and (b) what steps will be taken to reassure banking clients that the risk of thefts of identities will be eliminated, particularly in light of increasing cybersecurity threats.
Miss Rachel Ong asked the Prime Minister and Minister for Finance (a) whether banks and financial institutions will be required to enhance account authentication requirements for access to services and information, beyond requesting for NRIC numbers, phone numbers or full names; and (b) if so, how will the roll-out be timed with the discontinuation of the use of masked NRIC numbers within the Government.
The Association of Banks in Singapore has recently assured consumer banking customers that the National Registration Identity Card (NRIC) numbers alone cannot be used to effect payment and fund transfers. Banks are also conducting a thorough review of their practices on the use of NRIC numbers to confirm that their practices are in line with the prevailing Personal Data Protection Commission's Advisory Guidelines on NRIC.
The Ministry of Digital Development and Information has announced that the Personal Data Protection Commission will be updating its Advisory Guidelines on the use of NRIC numbers, following public and industry consultations. This has been addressed in the Ministerial Statement on 8 January 2025. [Please refer to "Responsible Use of NRIC Numbers", Official Report, 8 January 2025, Vol 95, Issue 149, Ministerial Statements section.]
Financial institutions will continue to educate their customers on good cyber hygiene habits and guard against identity theft.
PAPERCUTS