The fraudsters can be fined in encryption and imprisonment and now “live” by the authorities

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Have you committed encryption fraud? Now, in addition to fines and imprisonment, the authorities can also lead to hitting – at least, this is said to be considered in Singapore.

Cleated currency fraud has become a great concern for the Singapore government, as fraudsters are increasingly used digital assets to bypass banking control. The Minister of State for Internal Affairs, Sun Xueling, said that the authorities explore strict penalties – including beating – to deter financial crimes.

During a parliamentary budget discussion on Tuesday, I mentioned for the first time by the great Chinese Singaporean news port Lianhe ZaobaoXueling indicated that encryption fraud was a quarter of losses related to fraud last year. The criminals deceived the victims to convert money into digital assets before converting them, and others used malicious methods and hunting to deplete the coding portfolios of the victims.

Purong GRC has argued that Singapore’s sanctions on fraudsters and the mural of money are very lenient and proposed legal amendments to “imposing mandatory strikes on serious crimes.”

The deputy pointed out that the contestants in sharks who deal with $ 10,000 in illegal funds can have been developed, while the fraudsters steal $ 100,000 or more. Sun added that although fraud cases already lead to prison penalties, the authorities are considering adding beating to the list of penalties for some financial crimes.

To counter the increasing threat, Singapore recently passed the law protection law, giving the police the authority to limit the temporary of temporary fraud victims. According to the news port, the law is expected to be in effect later this year.

It was worth noting that the cans Physical punishment imposed In Singapore for various crimes.