😳Singapore 🇸🇬: convicted scammers to be banned from banking services and mobile access

😳Singapore 🇸🇬: convicted scammers to be banned from banking services and mobile access

The enforcement of this ban will be overseen by the Singapore Police Force (SPF), the Monetary Authority of Singapore (MAS), the Infocomm Media Development Authority (IMDA), and the Government Technology Agency (GovTech Singapore).

▶️Context: in Singapore, so-called “drops” often sell their bank accounts and phone lines to interested parties. It is estimated that 15% of the subscribers identified by the police are repeat offenders, representing 11,000 mobile numbers. In the first half of 2025, the country recorded 19,665 fraud cases, with total losses of USD 456.4 million.

▶️The restrictions will apply not only to those currently under investigation but also retrospectively, affecting citizens previously involved.

▶️Alongside the ban on access to banking and mobile internet services, repeat fraud offenders will face harsher judicial penalties, including imprisonment.

#news #Asia #scam

🏦Payouter.com — reliable payment partner in the CIS and 🇮🇳India: Intent, UPI P2C conversion 54% on FTD