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Committee of Supply 2024 debate, Day 1: Sylvia Lim on safeguarding bank customers

In an environment of pervasive online scams, the Government should ensure that bank customers are adequately and fairly protected both in prevention and compensation, MP Sylvia Lim said in Parliament on Wednesday (Feb 28). She noted that proposed changes to the E-Payments User Protection Guidelines place the burden on

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Claim limit for victims of mis-selling by financial institutions to go up to $150k

The move is significant as the amount refers to the losses suffered, and not the size of the investment. Read more at straitstimes.com.

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Most financial disputes resolved with goodwill settlements

It makes business sense to do so because it is easier to retain a customer than to acquire a fresh one. Read more at straitstimes.com.

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Over 500 scam victims filed claims in bid to recover losses from banks

Most have to bear with the bulk of the losses even though two thirds received partial goodwill compensation. Read more at straitstimes.com.

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No use of local credit cards by retail investors among S pore crypto rules outlined by MAS

Conditions set out by MAS as it finalises its proposed rules for digital token service providers. Read more at straitstimes.com.

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