Regulating Cross-Border Transactions and Shared Responsibility in the Financial System

The scourge of scams continues unabated in Singapore with nearly 23,000 people falling victim in the first six months of this year. With increasing sophistication from the fraudsters, is public education enough? Should banks pay for some of the losses? If so, how can liability be fairly decided? Steven Chia speaks to Jansen Chow, co-head of fraud, asset recovery and investigations practice at Rajah & Tann law firm, Assistant Professor Nydia Remolina, from the Singapore Management University’s Yong Pung How School of Law and Ho Geer How, whose mother lost over S$190,000 to a scam.

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