Singapore’s Protection from Scams Bill, presented to Parliament on November 11, proposes an unprecedented measure allowing police to issue Restriction Orders (RO) on suspected scam accounts. If it is passed, Singapore will be the first country to grant police authority to intervene in bank transactions to prevent fraud.
A row of ATMs in Singapore. (Photo: channelnewsasia.com)
Singapore (VNA) - Singapore’s Pr𒉰otection from Scams Bill, presented to Parliament on November 11, proposes an unprecedented measure allowing police to issue Restriction Orders (RO) on suspected scam accounts. If it is passed, Singapore will be the first country to grant police authority to intervene in bank transactions to prevent fraud.
The bill enables police to restrict bank accounts where victims refuse to acknowledge they've been scammed despite clear evidence.
Restrictions can apply to money transfers, ATM access, and credit transactions, impacting services like PayNow and direct transactions. The initial RO duration is 30 days, extendable up to six months. Disputes can be appealed to the Police Commissioner.
ROs will apply to scams conducted primarily through digital or telecom channels and exclude in-person fraud involving family or friends. Affected individuals can still access funds for essential needs by applying for a fixed amount with proof, such as bills.
With scams costing Singapore about 2 million USD (1.5 million USD) daily, the Home Affairs Ministry estimates at least ten ROs could be issued monthly.
Despite past anti-scam initiatives, including campaigns and freeze tools by banks, voluntary transfers still account for 86% of reported scams in the first half of 2024./.
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