Yip Hon Weng on Protection from Scams Bill
The Protection from Scams Bill is a necessary and timely step to address the scam crisis, but it is also highly intrusive as it temporarily restricts access to a person’s bank accounts, said MP Yip Hon Weng. Speaking in Parliament on Tuesday (Jan 7), he stressed the need to “act with care”. He pointed out that temporarily freezing someone’s account is a serious measure and it should only be justified by the need to protect vulnerable individuals. To mitigate this, the Government should prioritise robust training and resources for bank employees and AI systems to minimise errors in account restrictions. A “human-centered” appeals process is vital to address disputes swiftly and fairly, he said. Mr Yip also warned of unintended consequences, such as driving desperate people to unsafe alternatives like loan sharks, as well as escalating family disputes over money. Calling for safeguards, he suggested neutral support systems such as community networks and counsellors to guide victims and help them recover from their experiences. “To truly protect Singaporeans, we must act fast, be fair and address the root causes of scams. Loneliness, financial insecurity and the lack of support create vulnerabilities that scammers exploit. These underlying issues must also be tackled to build resilience in our society,” said Mr Yip.
The Protection from Scams Bill is a necessary and timely step to address the scam crisis, but it is also highly intrusive as it temporarily restricts access to a person’s bank accounts, said MP Yip Hon Weng. Speaking in Parliament on Tuesday (Jan 7), he stressed the need to “act with care”. He pointed out that temporarily freezing someone’s account is a serious measure and it should only be justified by the need to protect vulnerable individuals. To mitigate this, the Government should prioritise robust training and resources for bank employees and AI systems to minimise errors in account restrictions. A “human-centered” appeals process is vital to address disputes swiftly and fairly, he said. Mr Yip also warned of unintended consequences, such as driving desperate people to unsafe alternatives like loan sharks, as well as escalating family disputes over money. Calling for safeguards, he suggested neutral support systems such as community networks and counsellors to guide victims and help them recover from their experiences. “To truly protect Singaporeans, we must act fast, be fair and address the root causes of scams. Loneliness, financial insecurity and the lack of support create vulnerabilities that scammers exploit. These underlying issues must also be tackled to build resilience in our society,” said Mr Yip.
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