Singapore passed a new law targeting the sale and misuse of local SIM cards for scams. and overseas scammers spoofing local numbers with Singapore’s country code, scammers have been adapting by using local numbers to dupe unwitting victims.is a much-needed hard line in the fight against scams, making it tougher to access an authentic local number.
Although this may feel like a dereliction of duty by these platforms, the reality is that a shift toward stricter authentication is simply at odds with business objectives. The race to acquire new users and sell advertising aligns them with the wants of most regular users - both happy for minimal identity checks to keep things easy.
Stemming the supply of illicit local numbers will most likely drive scammers onto platforms that require the least stringent checks. And the chase continues.One area where the new legislation should have impact is scams that use local numbers for direct interactions with their victims: Think phishing calls from fake Singaporean companies or agencies and unofficial links in suspicious-looking SMSes.
The reality is these global tech giants wield serious clout in the markets they operate - many users depend on them for a range of legitimate business and personal matters. Regulators must hold business interest and public protection in a delicate balance when looking to mandate change.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »