Financial institutions, telcos to be accountable to scam victims

Quick Summary:

SINGAPORE: Banks must block or hold for 24 hours suspicious transactions involving more than S$25,000.

This was spelt out under the finalised Shared Responsibility Framework (SRF) for phishing scams, unveiled on Oct 24.

Singapore is possibly the first jurisdiction to include telcos in a fraud reimbursement framework.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSingapore

Topics: Banking Scam Monetary Authority of Singapore /Business/Business News MAS Fraud

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 00:00:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23274448

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 43 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 3 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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