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Why is Singapore allowing police to take over people's bank accounts?
FirstpostSingapore has introduced a new law empowering police to freeze the bank accounts of scam victims as a last resort to curb rising financial fraud. File Image/Reuters Singapore has introduced a law to combat the rising tide of financial scams, empowering police to freeze bank accounts of potential scam victims as a last resort. Minister of State for Home Affairs and Social and Family Development Sun Xueling highlighted the urgency of this measure, stating, “Speed is of the essence in order to protect these individuals and minimise losses, which in some cases might involve all of the victim’s life savings.” How do the restriction orders work? Sun Xueling noted, “The intent is to buy the police more time to engage and convince the individual that he is being scammed, including through enlisting the help of his family members.” In cases where the victim persists in transferring money after the restriction orders have lapsed, the authorities stress that accountability must ultimately rest with the individual.
History of this topic
Singapore Passes Bill That Lets Police Control Bank Accounts
Live Mint
Singapore plans law to restrict banking transactions of scam targets
Hindustan Times
Singapore arrests 10, seizes $737m in assets in money laundering raids
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