Key Framework Criteria & Principles
Shared Responsibility Framework
Phishing Scam DutiesThe SRF sets defined anti-phishing responsibilities for participating financial institutions and telecommunications companies and provides a framework for loss responsibility where prescribed safeguards fail.
Emergency Kill Switch
Freeze Account QuicklyBanks provide customer-activated emergency mechanisms that can suspend online banking access or transactions when an account is suspected to be compromised.
Money Lock
Ring-Fence SavingsMoney Lock allows customers to place selected funds beyond digital-transfer reach, providing an additional layer of protection against unauthorised online transactions.
Rapid Bank-Police Intervention
Fast Account FreezingSPF's Anti-Scam Centre works directly with participating banks to identify victims, freeze suspicious accounts and intercept scam proceeds where possible.
FIDReC Dispute Resolution
Mediation + AdjudicationFIDReC mediates eligible disputes without a monetary claim limit and can adjudicate claims up to S$150,000 per claim under its current terms.
Singapore's Anti-Scam Protection Framework
Layers
What to Do Immediately After a Scam
Steps
Contact the Bank Immediately
Step 1Use the bank's official fraud hotline or account-security channel. Request that the account, cards or digital banking access be secured and activate the bank's kill switch where available.
Stop Further Transfers
Step 2Do not send additional money, disclose OTPs or credentials, or follow a scammer's instructions to 'unlock' or recover funds.
Secure Accounts
Step 3Change compromised passwords, revoke suspicious access, enable multi-factor authentication and review recent transactions and account activity.
File a Police Report
Step 4File a police report online or in person and preserve transaction records, screenshots, phone numbers, URLs and messages.
Report Through ScamShield
Step 5Use ScamShield to check or report suspicious messages, numbers and links, and call 1799 when scam assistance is needed.
Follow the Bank's Fraud Investigation
Step 6Provide the bank with the transaction timeline, evidence and requested declarations. The bank will assess recovery possibilities and whether any reimbursement framework applies.
Escalate an Unresolved Financial Dispute
Step 7After giving the financial institution an opportunity to resolve the complaint, consider FIDReC where the institution and dispute fall within FIDReC's jurisdiction.
Emergency Bank Kill Switch
Rule
Singapore banks provide emergency self-service or other rapid account-freezing mechanisms so customers can suspend digital banking access when they suspect compromise.
Purpose
The kill switch is designed to stop further unauthorised digital transactions after credentials, devices or accounts may have been compromised.
Important
The kill switch is a protective control, not a guarantee that funds already transferred to a scammer will be recovered.
How To Use
- Use the bank's official app or designated phone channel.
- Do not use a link or phone number supplied by the suspected scammer.
- After activation, contact the bank's fraud team for case handling and account restoration.
Money Lock
Rule
Money Lock lets customers set aside selected funds so that the locked amount cannot be transferred out digitally.
Purpose
It is intended to protect savings even if a scammer gains access to the customer's online-banking credentials.
Access
Depending on the bank, locked funds may require a branch, ATM or other offline identity-verification process to unlock.
Important
Money Lock is different from a kill switch. A kill switch suspends banking access or transactions, while Money Lock ring-fences a specified amount of funds.
Shared Responsibility Framework (SRF)
Scope
The SRF is a regulatory framework addressing phishing scams where specified financial institutions and telecommunications operators have defined duties to implement anti-scam safeguards.
Financial Institution Duties
- Implement the prescribed anti-phishing controls.
- Monitor and respond to specified phishing risks.
- Provide the relevant customer safeguards required under the framework.
Telco Duties
- Implement the prescribed anti-phishing safeguards within the telecommunications layer.
- Support measures intended to reduce delivery of scam SMSes and related phishing activity.
Customer Role
Customers still have responsibilities under the applicable framework and general banking terms. The SRF should not be described as guaranteeing reimbursement whenever an unauthorised transaction occurs.
Loss Allocation
Where the SRF applies, responsibility for loss can depend on whether prescribed duties were breached and on the facts of the case.
Important
The SRF is targeted at specified phishing scams and should not be treated as a universal reimbursement regime covering every scam type, including all self-effected transfers.
ScamShield
App
ScamShield is a Singapore anti-scam service developed through government-industry collaboration and provides tools for checking, filtering, blocking and reporting suspected scams.
Features
- Blocks or filters known scam calls and messages where supported.
- Lets users check suspicious phone numbers, messages and website links.
- Supports reporting of scam encounters.
- Provides additional protection beyond basic SMS/call filtering for supported channels and threats.
Helpline
The ScamShield Helpline is 1799 and operates 24/7.
Important
ScamShield is a preventive and reporting tool. Users should still contact their bank immediately when funds or banking credentials may have been compromised.
SPF Anti-Scam Centre
Role
The Anti-Scam Centre (ASC) is part of the Singapore Police Force's Cyber Command and works with banks and other partners to disrupt scam operations and prevent losses.
Bank Intervention
Where the Police identify suspicious transfers or potential scam victims, the ASC can work with participating banks to freeze accounts and trace funds.
Current2026 Evidence
In a joint operation from 1 May to 30 June 2026, the ASC and five banks used automated information exchange to disrupt over 600 scam attempts and avert more than S$38 million in potential losses.
Important
Freezing a recipient account does not guarantee that a victim's money can be fully recovered. Recovery depends on whether the funds remain traceable and the circumstances of the transaction.
Bank Accounts, Singpass and Money-Mule Risk
Rule
Allowing scammers or criminal groups to use a bank account, payment account or digital credentials can expose the account holder to criminal investigation where the person is involved in facilitating criminal proceeds.
Laws
- Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA)
- Computer Misuse Act
- Other criminal laws depending on the underlying conduct
Investigation Evidence
Singapore Police investigations can target people suspected of surrendering bank accounts to facilitate money laundering or scam activity.
Current2026 Evidence
In a June 2026 islandwide enforcement operation, the Police investigated 147 persons suspected of facilitating scam activities and froze 158 bank accounts linked to scam activity.
Warning
There is no single universal 'up to 3 years' penalty that should be quoted for every money-mule or Singpass-related offence. The applicable offence and statutory provision determine the maximum punishment.
FIDReC for Bank and Financial-Services Disputes
Eligibility
FIDReC generally handles eligible disputes between consumers and participating financial institutions after the financial institution has had an opportunity to resolve the complaint.
Mediation
There is no monetary claim limit for mediation.
Adjudication
The current adjudication limit is S$150,000 per claim for disputes filed from 1 July 2024.
Above Limit
Where a claim exceeds S$150,000, the consumer can reduce the claim to S$150,000 or the financial institution can agree to the higher amount for adjudication.
Process
- First complain to the financial institution.
- If unresolved, lodge the eligible dispute with FIDReC.
- A case manager conducts mediation.
- If mediation does not resolve the matter, the eligible complainant may proceed to adjudication under the FIDReC rules.
- The adjudicator determines the dispute according to the applicable Terms of Reference.
Current Scope
Since 1 July 2025, FIDReC's eligible complainant scope includes individuals, sole proprietors, qualifying small businesses and charities subject to its current Terms of Reference.
Important
Mediation is not the same as a binding adjudication. Do not describe every FIDReC mediation outcome as a binding order.
How a Bank Fraud Claim Is Assessed
Factors
- Whether the transaction was authorised by the customer.
- Whether the customer disclosed credentials or approved a transaction.
- Whether the account or device had been compromised.
- Whether the bank's applicable security or monitoring obligations were met.
- Whether the SRF applies to the specific scam type.
- How quickly the customer notified the bank.
- Whether the funds can still be frozen or recovered.
- The applicable account terms and regulatory requirements.
Reimbursement
There is no universal rule that every scam loss is reimbursed by the bank. Reimbursement depends on the relevant regulatory framework, contractual terms, facts and investigation outcome.
Anti-Scam Features Customers Should Consider
Features
Rapidly suspend digital banking access when compromise is suspected.
Ring-fence selected savings from digital transfers.
Reduce the maximum amount that can leave the account through online channels.
Add another authentication layer to banking and other sensitive accounts.
Detect suspicious transactions quickly.
Required Document Checklist
Common Mistakes & Legal Misconceptions
Frequently Asked Questions (FAQ)
Official Government Sources & Statutory Verification
Wise Global Expat Money Transfer
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