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Singapore to cane scammers as billions lost in financial crimes

freemalaysiatoday.com

41–50 of 110 posts

Re: Singapore to cane scammers as billions lost in financial crimes

#41

Singapore is an odd country. The only country, to my knowledge, that had independence thrust upon it without its consent. Extremely prosperous compared to its neighbors. An autocratic, single party state where the government is so popular that they need to rig their elections against themselves to get dissenting voices. One of the most militarized countries (#3 by military spending per capita) in the world, yet their…

[deleted]

Re: Singapore to cane scammers as billions lost in financial crimes

#42

Singapore is an odd country. The only country, to my knowledge, that had independence thrust upon it without its consent. Extremely prosperous compared to its neighbors. An autocratic, single party state where the government is so popular that they need to rig their elections against themselves to get dissenting voices. One of the most militarized countries (#3 by military spending per capita) in the world, yet their…

"Disneyland with the death penalty"

That article is more than three decades old now. Time to give it a rest.

Re: Singapore to cane scammers as billions lost in financial crimes

#43
The damage done by scammers is enormous. Families losing their life’s savings. Quite often these scams are perpetrated on less sophisticated people so the economic damage to them is even more devastating.

It’s not like the government woke up one day and started to cane scammers. There have been years of educational programs in different languages. A campaign with special focus on protecting the elderly. Every time you transfer money with your online banking app you get a warning about scammers. They instituted an SMS registry that results in unknown numbers (for instance pretending to be your bank) showing up as “LIKELY SCAM” on your phone. That hasn’t eradicated the problem, so now the punishment goes up.

Imagine a government that actually protects its citizens…

Re: Singapore to cane scammers as billions lost in financial crimes

#44
post #29

I've been in banking for quite some time of my life and hands down, there is no country in the world that makes bankers with let's say questionable skills in risk assessment and decision making more afraid. Millions in fines, maybe more? Zero fucks given. Messing with regulators in Singapore? Not worth it. Wouldn't be surprised if they send or have sent people out to tell the somewhat gory stories of the canings in S…

>depending on the habit is a months supply max for some

People with substance abuse problems are generally the "get more every day or two" type not the "have a month's supply on hand" type.

And I really believe more in corporal punishment for a lot of things than the maze of fines, legal costs, and probation which really seems more like complicated inconvenience.

For drunk driving, sexual assault, and grand theft the appropriate punishment for the first offense is a public beating where they stop half way through and give you a chance to admit guilt and apologize on camera or they keep going. It would be particularly good for any fraud that nets you, say over a million dollars. Only for the kinds of crimes that have significant victims.

Re: Singapore to cane scammers as billions lost in financial crimes

#45
post #7

Singapore is an odd country. The only country, to my knowledge, that had independence thrust upon it without its consent. Extremely prosperous compared to its neighbors. An autocratic, single party state where the government is so popular that they need to rig their elections against themselves to get dissenting voices. One of the most militarized countries (#3 by military spending per capita) in the world, yet their…

I’ve never been there but whenever I read something about it I get the vibe that they’re an HOA with a military.

Not really.

They are famous for having a lot of rules, but the instances where they really go wild are when someone has been particularly egregious.

For the most part it is just insanely materialistic as the main downside.

Most of the "harsh" rules make a tremendous amount of sense when you actually go there. Yeah, gum and spitting are illegal, and that is a good thing in a city as crowded as that with a significant population from countries where spitting is customary. Take an overnight train in China, and you will come to discover that you too appreciate a place where people can't just hork one up at will.

To put it into perspective, SG is one of the rare tier 1 cities where you can get a Michelin meal from a street vendor (literally), after engaging the services of a prostitute, and drinking a beer in public. It isn't nearly as uptight as an HOA.

Re: Singapore to cane scammers as billions lost in financial crimes

#46

The damage done by scammers is enormous. Families losing their life’s savings. Quite often these scams are perpetrated on less sophisticated people so the economic damage to them is even more devastating. It’s not like the government woke up one day and started to cane scammers. There have been years of educational programs in different languages. A campaign with special focus on protecting the elderly. Every time yo…

My mom just lost about fifteen thousand dollars. The sad part is, she knew full well, for years now, if you hear a certain accent from a cold call, just hang up the phone. She received calls almost every day since she still needs a landline to talk to family, so she is very well versed in avoiding them.

So for her to fall for a scam has us worried, it might be a sign of neurodegenerative disease. She went from sharp as a tack when it came to ignoring scammers, to falling into it. I'm sure this is a very common theme. These parasites prey on the elderly losing their mental acuity

Re: Singapore to cane scammers as billions lost in financial crimes

#47

Singapore is an odd country. The only country, to my knowledge, that had independence thrust upon it without its consent. Extremely prosperous compared to its neighbors. An autocratic, single party state where the government is so popular that they need to rig their elections against themselves to get dissenting voices. One of the most militarized countries (#3 by military spending per capita) in the world, yet their…

What would you even call their socioeconomic system? Pure authoritarianism.

And yet the average Singaporean is freer economically, socially, and ideologically.

Re: Singapore to cane scammers as billions lost in financial crimes

#48

Earlier quoted context omitted.

"Disneyland with the death penalty"

Meanwhile, the US carries out extrajudicial killings over drugs

It's not at all clear they they're not just killing fishermen and migrants.

Re: Singapore to cane scammers as billions lost in financial crimes

#49
post #29

I've been in banking for quite some time of my life and hands down, there is no country in the world that makes bankers with let's say questionable skills in risk assessment and decision making more afraid. Millions in fines, maybe more? Zero fucks given. Messing with regulators in Singapore? Not worth it. Wouldn't be surprised if they send or have sent people out to tell the somewhat gory stories of the canings in S…

I would respectfully disagree. While Singapore likes to “kill the chicken to teach the monkey” they absolutely are examples of kid gloves.

The recent corruption case of a Minister taking gifts of hundreds of thousands resulted in a few months custodial sentence for the Minister and nothing for the rich “donor”.

Massive money laundering scam? Stiff punishment for the foreigners and kid gloves for the local lawyers and bankers who facilitated it all.

Singaporeans constantly complain about how being rich in Singapore protects from actual punishment.

Re: Singapore to cane scammers as billions lost in financial crimes

#50

The damage done by scammers is enormous. Families losing their life’s savings. Quite often these scams are perpetrated on less sophisticated people so the economic damage to them is even more devastating. It’s not like the government woke up one day and started to cane scammers. There have been years of educational programs in different languages. A campaign with special focus on protecting the elderly. Every time yo…

What would actually help the scammed families would be getting the lost resources back, at least partially. I realize that it may be hard, for the resources may have been squandered.

Scamming would be much less prevalent if money were trackable, scam transactions would be possible to roll back, yes, transitively, from all the downstream users. The downstream users would then be keenly interested in the provenance of the money they're being paid. Ironically, blockchain-based currencies are perfectly trackable (at least in theory; mixers make it harder). Sadly, this has a ton of obvious privacy implications.

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