Discharge of responsibility: Information in this article was translated using artificial intelligence of a foreign source.
Have you committed cryptographic fraud? Now, in addition to fines and jail time, authorities can also submit it to Caning, at least, that is what is considered in Singapore.
Cryptocurrency scams have become a great concern for the Singapore government, and scammers use more and more digital active to avoid banking supervision. The Minister of State for Interior Affairs of the beginning, Sun Xueling said that the authorities are exploring stricter punishments, including beats, to deter financial crimes.
During a debate about the parliamentary budget on Tuesday, he first reported by the main means of Singapurense news in the Chinese language Lianhe Zaobao, Xueling said that cryptography scams represented a quarter of all losses related to fraud last year for the region. The criminals deceived the victims to turn money into digital assets before transferring them, and others used malware tactics and phishing to drain the cryptography wallets of the victims.
Member of Parliament Tan Wu Meng (jurong GRC) argued that Singapore sanctions for scammers and money mules are too indulgent and proposals legal amendments to “enforce the mandatory way for serious crimes.”
The deputy said that the loan corridors that handle $ 10,000 in illegal funds can be launched, while scammers steal $ 100,000 or more. Sun added that, although fraud cases already result in prison sentences, the authorities are considering adding Caning to the list of punishments for certain financial crimes.
To counteract the growing threat, Singapore recently approved the scam protection law, granting the Police the power to temporarily restrict the transactions of suspicion of victims of scams. According to the media, the law is expected to enter into force at the end of this year.
It is worth noting that the channel is a form of corporal punishment applied in Singapore for various crimes.
