Scam-related claims rise 63%; more than a third of all claims: Singapore’s dispute resolution body

Quick Summary:

The total number of all claims handled by Fidrec rose by 45% to 2,162 cases.

Singapore introduced the Protection from Scams Bill on November 11 that aims to give the police powers to control the bank accounts of stubborn victims, who insist they are not being scammed.

Ms Chua said such scams can be prevented if people keep a close eye on their transactions by checking bank accounts regularly while also using two-factor authentication and installing anti-virus and anti-malware programmes on their devices.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Year Cent Claims Scams Bank Months Noted 2022 Been Chua Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 07:00:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 840 words

Reading Time: 5 minutes read

Sentences: 36 lines

Sentence Length: 24 words per sentence (average)

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

Copyright Owner: © The Straits Times

News ID: 23725468

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