More can be done to protect the vulnerable and tackle malware scams: Experts

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) have introduced a framework outlining shared responsibilities between banks and telcos in cases of scams. Cybersecurity expert, Raju Chellam, suggested further protections for seniors and the mentally challenged, as well as adding obstacles for overseas attackers. In the first H1 2023, 22,339 scam cases have been reported, with phishing making up nearly 3000 of those cases. Some call for an expanded framework to include the rising threat of malware scams.