SINGAPORE Trends and Developments Contributed by: Rajesh Sreenivasan, Steve Tan, Benjamin Cheong and Lionel Tan, Rajah & Tann Singapore LLP
Protection from Scams Bill The Protection from Scams Bill (“Bill”), introduced in Parliament in November 2024, was passed on 7 January 2025. The Bill seeks to tackle the increasing number of scams in which individuals willingly transfer monies to scammers. The Bill covers scams that are conducted via remote communication as well as more tradition - al cheating cases. It empowers specified officers (such as Police officers or Commercial Affairs officers) to issue Restriction Orders (“ROs”) to banks to restrict an individual’s banking trans - actions if there is reasonable belief that the indi - vidual will make money transfers to scammers. ROs may cover the following scope of banking facilities: • suspension of transfer or withdrawal of money from the victim’s bank account; and • suspension of all credit (including credit card transactions and personal loan facilities).
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