The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) have released a joint paper introducing a Shared Responsibility Framework (SRF) for phishing scams. This framework assigns responsibilities to financial institutions and telecommunication companies and mandates compensation to victims if these responsibilities are not met. Raymon Ram, Certified Fraud Examiner & Anti-Money Laundering Specialist, Graymatter Forensic Advisory tells us the mechanics of it and if Malaysia should implement a similar scheme.

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Produced by: Tun Hizami Hashim

Presented by: Wong Shou Ning, Philip See

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Categories:  financial wellness

Tags:  scam prevention,  shared responsibility framework,