Account protection and risk awareness.
These FAQs summarise key user-protection controls and RAA requirements applicable to SMPL customers.
Client Information
SMPL does not generally use clickable links or QR codes for login, transactions or app downloads. Informational links may be used where the customer is expecting the message. Unsolicited phone numbers are not sent by SMS. Customers should verify official details through recognised SMPL and MAS channels.
SMPL provides risk notifications and may require additional confirmation before high-risk actions such as password changes, changes to contact details, login from a new device or activation of a new security token.
A cooling-off period of at least 12 hours may apply after certain high-risk account activities. This provides time to identify and report suspicious activity before further sensitive actions can proceed.
Alerts may be sent to registered contact channels such as email, SMS or platform notifications. Alerts identify the relevant activity and remind customers to contact SMPL if the activity was not authorised.
Customers can choose to receive notifications for all outgoing transactions or provide instructions for selected notification thresholds, subject to SMPL's applicable controls.
The kill switch allows customers to block online access to their account quickly through the platform. Customers who activate it unintentionally should contact the customer service team.
Before a payment instruction is processed, payment and recipient details are displayed for review so that the customer can confirm the information.
SMPL provides reporting channels through its platform or website. Customers should report suspicious or unauthorised activity promptly so that access can be restricted and the matter investigated.
SMPL maintains procedures for investigating claims involving unauthorised transactions and determining responsibilities and next steps.
SMPL uses controls intended to detect and block suspected unauthorised transactions and to verify activity before allowing suspicious transactions to proceed.
The RAA is intended to strengthen understanding of the risks associated with Digital Payment Token services. It covers unregulated entities, business conduct, technology, custody, liquidity and price volatility.
The assessment is a short multiple-choice exercise covering six key digital asset risk topics.
A successful assessment allows the customer to proceed with access to the applicable SMPL products and services, subject to onboarding and other requirements.
Customers can review the Knowledge Hub study material and attempt the assessment again.