Framework for sharing of losses suffered by scam victims delayed: MAS

Singapore’s central bank has said that a draft framework on how financial institutions and consumers can share losses arising from scams has been delayed. The Monetary Authority of Singapore said the draft is taking longer than expected due to the complexity of issues. Assistant Professor Nydia Remolina Leon from the Yong Pung How School of Law at SMU spoke on the challenges faced in coming up with the draft framework.

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