Louis Ng on amendment bills for tougher laws to tackle money mules, Singpass abusers
The proposed changes will strengthen Singapore’s ability to tackle scams through the misuse of bank and Singpass accounts, said MP Louis Ng. Speaking in Parliament on Tuesday (May 9), he said they will also allow Singapore to more effectively investigate and prosecute money mules who allow their Singpass or bank accounts to be used for scams. He also sought clarifications on the bills. One of them relates to the new offences of rash and negligent money laundering. He wanted to know the extent of verification that a person should make to address any suspicions. He also sought clarification on the responsibilities of network access facility operators and service providers in addressing the illegal use of accounts and Singpass credentials. He wanted to know what regulatory frameworks are in place to ensure they are not complicit in the use of their platforms for illegal purposes.
The proposed changes will strengthen Singapore’s ability to tackle scams through the misuse of bank and Singpass accounts, said MP Louis Ng. Speaking in Parliament on Tuesday (May 9), he said they will also allow Singapore to more effectively investigate and prosecute money mules who allow their Singpass or bank accounts to be used for scams. He also sought clarifications on the bills. One of them relates to the new offences of rash and negligent money laundering. He wanted to know the extent of verification that a person should make to address any suspicions. He also sought clarification on the responsibilities of network access facility operators and service providers in addressing the illegal use of accounts and Singpass credentials. He wanted to know what regulatory frameworks are in place to ensure they are not complicit in the use of their platforms for illegal purposes.
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