Singapore Passes Bill That Lets Police Control Bank Accounts
Live Mint-- Singapore’s parliament has passed a law allowing the police to control the bank accounts of individuals who are suspected to be the targets of scams, after the number of cases surged in the city-state. The Protection from Scams Bill passed Tuesday gives the police powers to issue restriction orders to banks, which will then limit the banking transactions of people’s accounts. The police and the Monetary Authority of Singapore have worked with major retail banks since 2022 to distinguish scams from legitimate transactions, trace fund flows and freeze accounts suspected to be linked in criminal operations, Sun said. Under the new law, restriction orders can be imposed on bank accounts and credit facilities of individuals who police believe are likely to make withdrawals or monetary transfers to scammers, and who authorities see as necessary to be protected in this manner.
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