Singapore proposes new bill to allow police to restrict bank transactions of scam victims.

Singapore is proposing the Protection from Scams Bill, which would allow police to restrict bank transactions of individuals who continue to send money to scammers. The bill aims to address the growing issue of scams, where victims often ignore warnings and continue to transfer money. Under the bill, police can issue "restriction orders" to banks, limiting transactions for up to 30 days, extendable up to six months if needed. The move comes as scam cases have surged, with over $650 million lost in 2023 alone.

November 11, 2024
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