New law allows police to control bank accounts of scam victims who continue to give money to scammers
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SINGAPORE — Some stubborn scam victims lost so much money to scams — despite advice from banks, police, friends and family members — that they asked the Government for financial assistance. But with the passing of the Protection from Scams Bill, theNew law allows police to control bank accounts of scam victims who continue to give money to scammers
SINGAPORE — Some stubborn scam victims lost so much money to scams — despite advice from banks, police, friends and family members — that they asked the Government for financial assistance. But with the passing of the Protection from Scams Bill, the police will be able to control the bank accounts of such victims to prevent them from transferring money to scammers. The new law will give the police powers to issue restriction orders (ROs) to banks, which will then restrict the banking transactions of an individual's accounts. These include money transfers, the use of ATM facilities and all credit facilities, affecting even PayNow and in-person, over-the-counter transactions. The law was initially intended to deal with remote scams, such as overseas syndicates targeting victims through calls, social media and messaging channels. When the Bill was introduced in Parliament on Nov 11, 2024, the Ministry of Home Affairs (MHA) had said the laws would not cover traditional cheating cases, such as those involving in-person interactions with errant renovation contractors or family members and friends. Read more
