[theold]

The SRF assigns financial institutions (FIs) and telecommunication companies (telcos) relevant duties to mitigate phishing scams and requires payouts to affected scam victims where these duties are breached.

“The SRF assigns shared responsibility by...

https://www.malaysiakini.com/news/684213

[singlon]

less people become aware it is systemic. Dark only tunnelling will do problematic u need at certain pt disembarke

[Migrant]

So more victims will scam the bank?

[K88 shu shu]

right move by authority.

[Wy:Nox]

Banks should NOT be liable for Love Scams as the money was given willingly. However for job scams, buying scams and fake friend scAms, the Banks must be responsible.


https://www.channelnewsasia.com/singapor...rk-3871356

[wulala]

good move to upgrade the digital transaction for SG. Its the responsibilities of the service provider to make sure top security is at bay. end-user are just a bridge to scammer. bring back dongle, I believe user wont mind to pay a small fee for the proven device that is much more secure.

[sgbuffett]

They "SHOULD" pay.

[Alice Alicia]

Like EU, should also penalize Google, Meta, Microsoft, X, Apple, etc.

[RiseofAsia]

How to justify you have fallen into scam prey?
Who will decide to pay or not to pay the losses from scam?


Stupidity has no cure.

[RiseofAsia]

I have received messages from whatapp to do survey and get $45. I deleted those msg immediately.

[Blasterlord2]

Guys, dun get your hopes too high yet. This is onyl a public consultation and I'm sure the banks and telcos will object to this strenuously. Let's see if the authorities have the courage to carry this through.

[Sentinel]

We are scammed already

[Lukongsimi]

We are scammed already

Scammed by you.

[sgbuffett]

How to justify you have fallen into scam prey?
Who will decide to pay or not to pay the losses from scam?


Stupidity has no cure.

These scam victims are only scam victims due to weak security of Banking apps that allow the scammer to go in and take the $$ and transfer out.

Given bank is custodian of the money and scammer took the money from the bank ....bank is liable.

[Lukongsimi]

Cannot totally blame the bank
The scammers are high tech to overthrow u without a doubt

[RiseofAsia]

These scam victims are only scam victims due to weak security of Banking apps that allow the scammer to go in and take the $$ and transfer out.

Given bank is custodian of the money and scammer took the money from the bank ....bank is liable.

It is your fault to fall into the prey due to your greediness.

It is unfair for bank to take the full responsibility.

Banks can only warn and do some restrictions for the transaction or improve current bank app for detecting fraudulent transaction.

[revealer]

They "SHOULD" pay.

Rightly so.. The victims used the Apps designed by the Banks etc. The victims are not allowed to use other Apps if there is any. Therefore, it is the duty of the Banks to make sure their Apps are scammed-free. Who knows, it could also be an insider job where banks' employees are working with the scammers. If these cases were brought before the court, the victims will have a good case. This may be the reason why OCBC reimbursed some of the stolen money.

[Ola]

Cannot totally blame the bank
The scammers are high tech to overthrow u without a doubt

Steve Chia was asking about Co-responsibility between Bank and Account holder.

But he forgot that, there is also InformComm Ministry, Telco and Phone manufacturing company that should be responsible.

For the latest iphone is not longer a scam but ROBBERY where just a miss call will make you lose everything


Scam losses: Who should bear the responsibility? | Heart of the Matter podcast - YouTube

[Gemstar]

Too late than never. Too many victims been scammed already.

[Lukongsimi]

Steve Chia was asking about Co-responsibility between Bank and Account holder.

But he forgot that, there is also InformComm Ministry, Telco and Phone manufacturing company that should be responsible.

For the latest iphone is not longer a scam but ROBBERY where just a miss call will make you lose everything


Scam losses: Who should bear the responsibility? | Heart of the Matter podcast - YouTube

Block all unknown calls

[lvlrsSTI]

To play safe banks and telecoms should stop sending SMS and emails, and using internet and phone based banking & telco services, using traditional ways of communications and services lah….sending letters and asking customers to queue up at service centres

[Oasis]

Rightly so.. The victims used the Apps designed by the Banks etc.  The victims are not allowed to use other Apps if there is any.  Therefore,  it is the duty of the Banks to make sure their Apps are scammed-free.  Who knows,  it could also be an insider job where banks' employees are working with the scammers.  If these cases were brought before the court,  the victims will have a good case.  This may be the reason why OCBC reimbursed some of the stolen money.

Insider  can sell private data to scammers
So far how many culprits being charged under PDPA?

[sgbuffett]

It is your fault to fall into the prey due to your greediness.

It is unfair for bank to take the full responsibility.

Banks can only warn and do some restrictions for the transaction or improve current bank app for detecting fraudulent transaction.

It is the bank greediness to phase out the hardware token against the security guidelines the 2nd factors has to on another device 

Because of the bank greed to save money on the hardware token it created a security vulnerability that the hacker could use to steal from the bank.

[Wy:Nox]

I am quite lost here. Why use Digi app when it is unsafe?

[Talent]

today focus group
I said gov bank and telco

should be held responsible

[RiseofAsia]

It is the bank greediness to phase out the hardware token against the security guidelines the 2nd factors has to on another device 

Because of the bank greed to save money on the hardware token it created a security vulnerability that the hacker could use to steal from the bank.

I think you know nut about online security.

We are lacking on expertise on data protection and security experts.
Otherwise,we won’t be scammed so easily.

As long you are using an email account, your data can be stolen easily.

Did your wifi router set to WPA3 security already?
You need to set it manually.

[RiseofAsia]

https://www.techtarget.com/searchsecurit...ition/WPA3

[RiseofAsia]

The safest way as I have mentioned it before.
Using 2 phones, one phone is purely for banking apps, the other phone is for your social media and messages. This is the most effective way to protect you from scammer although it is abit tedious as our current online security is still not strong enough to detect scam activities.

[singaporean1964]

the banks should use voice or facial recognition system as a added security measure

unless the scammer can mimic your voice or change his face
it is very harf to get scammed

although
it may be possible for scammers to use advance AI
to mimic your voice or construct a fake video of you...that may be too much work for the scammer