As part of our compliance with the Monetary Authority of Singapore (MAS) Shared Responsibility Framework (SRF), we have identified certain Sensitive Features that are considered high-risk activities. These features require additional security measures to protect your account and prevent unauthorized access.

Which moolahPAY features are regarded Sensitive?

Sensitive features are activities within your account that require extra scrutiny due to their higher risk of fraud or misuse leading to possible financial losses. These include:

1. Adding New Payees – Adding a new payee in the Remit or DBS MCA feature
2. Changing Email Address – Updating the email linked to your account
3. Changing the Buy Now Threshold PIN – Adjusting limits for Buy Now transactions
4. Using Pay Now – This includes all types of Pay Now transactions (eg: Singapore PayNow, Pay Now to Indonesia / Philippines wallets)
5. Remittance – Sending money via the remit feature
6. Paying Salary – Transferring payroll to employees

Why Are These Features Considered Sensitive?

These activities involve accessing or using the funds in your e-wallet. To protect your account and prevent unauthorized transactions in case of a compromise, additional safeguards are implemented.

What Safeguards Are in Place?

To ensure security:

• Multi-Factor Authentication (MFA): Your moolahPAY App already requires you to login using a PIN or Biometric every time you access the app. And if you are logging into your account from a different device, a SMS OTP is required to verify you.
• Cooling-Off Periods: If your account is on a cooling-off period, the above mentioned sensitive features will be locked.  Certain actions, such as adding new payees, may trigger a cooling-off period before they become active. To learn more about cooling-off period, please refer here.
• Activity Monitoring: Your transactions undergo our fraud sentinel system to identify possible unusual actions and will prompt additional checks or alerts.

What Should I Do If I Encounter an Issue?

If you face any challenges accessing these features or believe there’s unauthorized activity, please contact our support team immediately for assistance.

Your Understanding Is Required

We understand that some of these safeguards may introduce frictions to your use of the moolahPAY app. These steps which are mandated by our regulators, are necessary to protect your accounts and prevent unauthorized activities. We kindly ask for your patience and cooperation as we work together to create a safer financial environment for everyone. Your understanding plays a vital role in the success of these efforts.