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Should Telcos, Banks Compensate Scam Victims?

CF Fong, CEO and cybersecurity consultant, LGMS

14-Dec-23 17:00

Should Telcos, Banks Compensate Scam Victims?

Singapore's Monetary Authority and Infocomm Media Development Authority has published a paper proposing a Shared Responsibility Framework for phishing scams. It proposes that banks and telcos should be responsible for mitigating scams, and compensate victims when the institutions duties have been breached. We discuss whether the responsibility of compensating scam victims should fall onto telcos and banks.

Image Credit: Unsplash

Produced by: Alia Zefri

Presented by: Lee Chwi Lynn, Sharmilla Ganesan, Sharaad Kuttan

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Categories:  technology

Tags:  scamscybersecurityonline safetyphishingtelcosfinance

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