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OCBC and Singapore Police Freeze Over 300 Accounts, Seize S$1.8 Million

Fintech News

More than 300 suspicious bank accounts were frozen, and over S$1.8 million was seized in a joint operation between the Anti-Scam Centre (ASC) and OCBC. The operation, conducted from May to August 2024, targeted accounts allegedly involved in facilitating scam-related activities, particularly those opened by foreigners.

Accounts 109
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Singapore Considers Caning for Scammers in Severe Cases as Fraud Rises

Fintech News

Sun acknowledged the devastating impact of scams on victims, stating that the government is reviewing tougher punishments to deter offenders. Scam-related losses in Singapore soared to S$1.1 While initiatives such as malware-resistant banking apps and blocking scam calls have been implemented, financial losses continue to mount.

Scams 79