The Monetary Authority of Singapore has proposed a framework that would see relevant organisations potentially pay consumers for their scam losses.
The Monetary Authority of Singapore will set out specific anti-scam duties of the financial institutions or telcos under the Shared Responsibility Framework.
The failure by these companies to fulfil said duties would render them responsible to make payouts to consumers who suffered the scam losses. “The government recognises that responsibility for preventing scams should not lie solely with consumers but also with industry stakeholders, such as financial institutions and telcos,” MAS said.
Telcos, on the other hand, facilitate the sending of SMS texts, which are often used by financial institutions for official communication and to send authorisation access codes such as SMS OTPs, the agency said.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Penang water authority: Mengkuang Dam not high-risk dam, drawdown capacity boosted next yearGEORGE TOWN, Oct 24 —The Expanded Mengkuang Dam (EMD) in Penang is still serving its purpose as a strategic drought reserve and remains a useful emergency raw water resource for...
Leggi di più »
Explosion at farmers' authority HQ electrical roomLoos says she decided to speak up after Beckham's documentary was aired because she did not want to be branded as a liar who made up those stories.
Leggi di più »
Singapore Land Transport Authority: Installation of new ERP 2.0 on-board units to start in November, ‘no immediate plans’ for distance-based chargingSINGAPORE, Oct 23 — From November 1, vehicles will be progressively fitted with an on-board unit for the next-generation Electronic Road Pricing (ERP) system, replacing the...
Leggi di più »
Perak garners over RM22bil investmentsInvestments mainly from 283 manufacturing projects, creating over 22,000 jobs, says the Malaysian Investment Development Authority.
Leggi di più »
Ringgit breaches 3.5 mark against Singapore dollarThe local note trades at 3.5026 against the Singaporean dollar at 9am today.
Leggi di più »
Ringgit breaches 3.5 mark against Singapore dollarThe local note trades at 3.5026 against the Singaporean dollar at 9am today.
Leggi di più »