Acts of fraud via digital facilities can no longer be handled using the old methods. Prevention and treatment require breakthrough steps.
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Ninety-five foreign citizens from China and Taiwan, as well as one Indonesian citizen, were presented at the Jakarta Metropolitan Police Headquarters on Friday . They are victims and perpetrators of a transnational crime syndicate involved in human trafficking and online fraud against several Chinese citizens.have emerged following technological advances. Customers who are victims of online fraud can ask banks and telecommunications operators for compensation.
The draft proposal for the SRF was revealed by IMDA and MAS on Wednesday . Singapore follows in the footsteps of England which has previously implemented similar regulations. The SRF was initiated after 800 OCBC Singapore customers were deceived, resulting in a total loss of 13.7 million Singapore dollars.
For the initial stage, SRF will focus on fraud and manipulation to steal consumer data. In January-June 2023, Singapore recorded 3,000 cases of this method, also known asThis is progress when the authorities also hold banks and telecommunications operators responsible for increasingly sophisticated fraud attempts as digital technology is increasingly used for various purposes. Banks must pay compensation to customers when they allow transactions that are later proven to be fraudulent.
Fraudulent actions through digital facilities can no longer be handled with traditional methods. Prevention and management require innovative steps so that public trust in financial institutions remains high. Without innovation, many people will exploit technological advancements for various criminal activities. They will continue to follow various technological developments that also make it easier for them to act.
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