Singapore considering caning for financial scammers; to tackle malicious websites
Live MintSingapore, Mar 4 Singapore will consider caning financial scammers in certain cases, in recognition of the serious harm they cause, Minister of State for Home Affairs and Social and Family Development Sun Xueling said in Parliament on Tuesday. “We have been clamping down on them, because they are the main way overseas financial scammers launder their ill-gotten gains and transfer it out of Singapore,” she said. Over 8,000 money mules and financial scammers were investigated last year, from 25 islandwide anti-scam enforcement operations by the SPF, said Sun. Despite efforts such as making banking apps malware-resistant and blocking calls from known scam numbers, the total amount lost to scams still hit a new high of SGD1.1 billion last year, she said.
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