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Bank Info Security 1 year, 8 months ago

Singapore Requires Banks, Telecoms to Prevent Scams

SMS Impersonation Scam Victims Must Be Made WholeSingapore regulators gave banks six months to institute real-time detection tools for blocking impersonation scams or else assume liability for stolen funds. A finalized framework published Thursday also shifts liability onto island-nation telecoms unless they block fraudulent SMS messages