Alvin Tan advocates for goodwill payments over mandatory scam victim reimbursements

During a Parliamentary sitting on Tuesday, Minister of State for Trade and Industry Alvin Tan emphasized the option for banks to provide goodwill payments to scam-affected customers, encouraging greater accommodation from financial institutions.

Additionally, Minister Tan said it depends on the case-by-case basis when WP Chairman Sylvia Lim questioned whether the Shared Responsibility Framework’s (SRF) “waterfall” approach might grant banks a ‘free pass’ if they fulfill the prescribed duties, absolving them of financial losses as depicted in the framework’s case studies.

Singapore’s Minister Teo refuses to confirm Chinese authorities’ role in $2.8 billion money laundering case

When questioned by Workers’ Party chairman Sylvia Lim in Parliament about Chinese authorities’ involvement in the landmark S$2.8 billion money laundering case, Singapore‚Äôs Second Minister for Home Affairs, Josephine Teo, refrained from confirming their assistance.

Minister Teo neither explicitly confirmed nor denied Chinese authorities’ role in the high-profile case, highlighting the presence of “other sources of intelligence”.

Banks should fully reimburse scam victims, argues WP Chairman Sylvia Lim

In a pivotal adjournment motion, Workers’ Party chairman, Sylvia Lim, urged banks to fully reimburse victims of scams and malware fraud.

Highlighting rising scam incidents, Ms Lim emphasized the responsibility banks should assume in ensuring victims’ financial stability, drawing attention to international standards, especially from the UK.

The call comes amidst a backdrop of increased malware scams, leading to unauthorized transactions despite no disclosure of banking details by victims.

AHTC clarifies roles of WP leaders in response to MND’s inquiry, emphasizing collective decision for accountability

Aljunied-Hougang Town Council (AHTC) has clarified that Workers’ Party (WP) chair Sylvia Lim hasn’t directly participated in its procurement and payment processes since 2020, while WP chief Pritam Singh is part of town council committees dealing with purchases, tenders, and contracts.

AHTC emphasized that committee decisions are collective, minimizing the risk of unilateral decision-making, thus ensuring effective representation of residents’ needs.