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Singapore to grant police authority to halt voluntary bank transfers to scammers

September 03, 2024
1 Min Read

The Ministry of Home Affairs in Singapore is now accepting public input on proposed regulations that would provide law enforcement the authority to direct banks to impose restrictions on the financial activities of individuals who contest that they are being deceived.

In the upcoming months, a new Protection against Scams Bill is expected to be introduced. It attempts to provide law enforcement greater authority to prevent individuals from giving money to con artists even after they have received warnings from friends, relatives, and the authorities that they are being conned.

This typically occurs in situations involving online romance or impersonation schemes.

According to the MHA, 86% of scams that were recorded in the first half of 2024 had the victim voluntarily transferring money to the con artist.

Restriction Orders (ROs) will not be granted for in-person encounters where it is frequently unclear at the start whether a criminal offense has been committed. Instead, ROs will only be granted for scams that are exclusively conducted via digital or telecommunication means.

According to the MHA: "ROs will only be issued if the police have reason to believe that the individual is being targeted by a scammer and may make transfers to the scammer within the foreseeable future, and after other options to convince the victim have been exhausted and have failed."

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