SINGAPORE MAKES PHONE COMPANIES SHARE SCAM COSTS WITH BANKS
February 18th, 2024
Singapore is to force telecommunications operators to share with banks some costs of phishing scams when criminals used their networks for text or WhatsApp messages, from December 16. Jointly developed by the city state’s central bank, the Monetary Authority of Singapore (MAS), and the Infocomm Media Development Authority (IMDA), this Shared Responsibility Framework (SRF) establishes the responsibilities of phone operators and financial institutions in preventing phishing. Both MAS and IMDA will oversee implementation of the framework, which takes a ...
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