Louis Chua on Law Enforcement and Other Matters Bill
Singapore needs to “step up our game” to reverse the worrying trend in scam cases, and the new measures would be a welcome addition to its arsenal in the war against scammers and cybercriminals, said MP Louis Chua. Speaking in Parliament on Tuesday (Apr 2), he raised several concerns. One of them relates to errant retailers in SIM card registration. Mr Chua pointed out that the law censures financial institutions for not putting in place adequate anti-money laundering and counter-terrorism financing measures. He wanted to know to what extent the buck stops at the retailers and authorised dealers and when the telecommunications licensee would be liable for failing to prevent, detect and address the abuse of SIM cards and telecommunications networks to facilitate crime. He asked to what extent the management teams and boards of these companies would be liable.
Singapore needs to “step up our game” to reverse the worrying trend in scam cases, and the new measures would be a welcome addition to its arsenal in the war against scammers and cybercriminals, said MP Louis Chua. Speaking in Parliament on Tuesday (Apr 2), he raised several concerns. One of them relates to errant retailers in SIM card registration. Mr Chua pointed out that the law censures financial institutions for not putting in place adequate anti-money laundering and counter-terrorism financing measures. He wanted to know to what extent the buck stops at the retailers and authorised dealers and when the telecommunications licensee would be liable for failing to prevent, detect and address the abuse of SIM cards and telecommunications networks to facilitate crime. He asked to what extent the management teams and boards of these companies would be liable.
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