Singapore Proposes New Law That Lets Police Stop Bank Transfers

Bloomberg2024-08-30

Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is ...

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Comments

Annejaz
2024-08-30
Annejaz
V v good idea especially for the seniors who are more vulnerable.
Jim18
2024-08-30
Jim18
It's good to hear this , as we're more secured to park our money in the bank

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Under it, people’s Singapore bank accounts and credit cards could be frozen without the account holders’ consent.</p><p style=\"text-align: start;\">The home affairs ministry said the number of scam cases involving victims voluntarily transferring money to scammers remains high, despite safeguards such as a “kill switch” that allows individuals to freeze their bank accounts if they suspect their accounts have been compromised. It said 86% of reported scams in the first half of 2024 were “the result of self-effected transfers.”</p><p style=\"text-align: start;\">Restriction orders will be issued only for scams conducted remotely, such as via phone calls, SMSes or online platforms, the ministry said. The orders would be for an initial period of 28 days, and could be extended after.</p><p>Individuals who have been locked out of their bank accounts can apply to the police to access their money to pay bills or for regular daily spending. They can also appeal to the Minister for Home Affairs if they disagree with the police’s decisions.</p><p style=\"text-align: start;\">The ministry is seeking public feedback on the new bill until the end of September.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Proposes New Law That Lets Police Stop Bank Transfers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Proposes New Law That Lets Police Stop Bank Transfers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128180706","content_text":"Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is planning to introduce a new law that would enable police in the city-state to order banks to restrict the accounts of individuals who are suspected to be targets of scams.The proposed law, called the Protection from Scams Bill, will be introduced in the coming months, according to a statement from the Ministry of Home Affairs on Friday. Under it, people’s Singapore bank accounts and credit cards could be frozen without the account holders’ consent.The home affairs ministry said the number of scam cases involving victims voluntarily transferring money to scammers remains high, despite safeguards such as a “kill switch” that allows individuals to freeze their bank accounts if they suspect their accounts have been compromised. It said 86% of reported scams in the first half of 2024 were “the result of self-effected transfers.”Restriction orders will be issued only for scams conducted remotely, such as via phone calls, SMSes or online platforms, the ministry said. The orders would be for an initial period of 28 days, and could be extended after.Individuals who have been locked out of their bank accounts can apply to the police to access their money to pay bills or for regular daily spending. They can also appeal to the Minister for Home Affairs if they disagree with the police’s decisions.The ministry is seeking public feedback on the new bill until the end of September.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":344045861343344,"gmtCreate":1725020191863,"gmtModify":1725020239608,"author":{"id":"3581822581887007","authorId":"3581822581887007","name":"Jim18","avatar":"https://static.tigerbbs.com/710044e1185f892a9daa0d3ebb3dfcde","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581822581887007","authorIdStr":"3581822581887007"},"htmlText":"It's good to hear this , as we're more secured to park our money in the bank&nbsp;","listText":"It's good to hear this , as we're more secured to park our money in the bank&nbsp;","text":"It's good to hear this , as we're more secured to park our money in the bank","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344045861343344","repostId":1128180706,"repostType":2,"repost":{"id":"1128180706","kind":"news","pubTimestamp":1725020100,"share":"https://ttm.financial/m/news/1128180706?lang=&edition=fundamental","pubTime":"2024-08-30 20:15","market":"sg","language":"en","title":"Singapore Proposes New Law That Lets Police Stop Bank Transfers","url":"https://stock-news.laohu8.com/highlight/detail?id=1128180706","media":"Bloomberg","summary":"Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is pla","content":"<html><head></head><body><ul style=\"\"><li><p>Protection from Scams Bill to be introduced in coming months</p></li><li><p>Police would be able to issue restriction orders to banks</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e6de0e0b54404d1472015b0de99e19f6\" alt=\"Commercial buildings in the central business district in Singapore.\" title=\"Commercial buildings in the central business district in Singapore.\" tg-width=\"2000\" tg-height=\"1334\"/><span>Commercial buildings in the central business district in Singapore.</span></p><p style=\"text-align: start;\">Singapore is planning to introduce a new law that would enable police in the city-state to order banks to restrict the accounts of individuals who are suspected to be targets of scams.</p><p style=\"text-align: start;\">The proposed law, called the Protection from Scams Bill, will be introduced in the coming months, according to a statement from the Ministry of Home Affairs on Friday. Under it, people’s Singapore bank accounts and credit cards could be frozen without the account holders’ consent.</p><p style=\"text-align: start;\">The home affairs ministry said the number of scam cases involving victims voluntarily transferring money to scammers remains high, despite safeguards such as a “kill switch” that allows individuals to freeze their bank accounts if they suspect their accounts have been compromised. It said 86% of reported scams in the first half of 2024 were “the result of self-effected transfers.”</p><p style=\"text-align: start;\">Restriction orders will be issued only for scams conducted remotely, such as via phone calls, SMSes or online platforms, the ministry said. The orders would be for an initial period of 28 days, and could be extended after.</p><p>Individuals who have been locked out of their bank accounts can apply to the police to access their money to pay bills or for regular daily spending. They can also appeal to the Minister for Home Affairs if they disagree with the police’s decisions.</p><p style=\"text-align: start;\">The ministry is seeking public feedback on the new bill until the end of September.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Proposes New Law That Lets Police Stop Bank Transfers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Proposes New Law That Lets Police Stop Bank Transfers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 20:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2024-08-30/singapore-proposes-new-law-that-lets-police-stop-bank-transfers?srnd=homepage-americas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128180706","content_text":"Protection from Scams Bill to be introduced in coming monthsPolice would be able to issue restriction orders to banksCommercial buildings in the central business district in Singapore.Singapore is planning to introduce a new law that would enable police in the city-state to order banks to restrict the accounts of individuals who are suspected to be targets of scams.The proposed law, called the Protection from Scams Bill, will be introduced in the coming months, according to a statement from the Ministry of Home Affairs on Friday. Under it, people’s Singapore bank accounts and credit cards could be frozen without the account holders’ consent.The home affairs ministry said the number of scam cases involving victims voluntarily transferring money to scammers remains high, despite safeguards such as a “kill switch” that allows individuals to freeze their bank accounts if they suspect their accounts have been compromised. It said 86% of reported scams in the first half of 2024 were “the result of self-effected transfers.”Restriction orders will be issued only for scams conducted remotely, such as via phone calls, SMSes or online platforms, the ministry said. The orders would be for an initial period of 28 days, and could be extended after.Individuals who have been locked out of their bank accounts can apply to the police to access their money to pay bills or for regular daily spending. They can also appeal to the Minister for Home Affairs if they disagree with the police’s decisions.The ministry is seeking public feedback on the new bill until the end of September.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":5,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1128180706"}