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In desperate times, potential scam victims must take drastic measures
A new framework spells out who bears responsibility in case of scams. It does not cover malware scams, so vulnerable people should even consider going offline.
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Phishing scams make up only 13 per cent of the overall 22,339 reported scam cases in the first half of 2023.
PHOTO: ST FILE
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In a world of rampant phishing scams, a consultation paper has tried to inject more clarity on whether it is the bank or the consumers who should pay for the losses when the bad guys strike.
And in what is said to be a world first, even telcos may have to bear a share of the losses in some cases under the proposed Shared Responsibility Framework (SRF) released on Wednesday.
