South Korea relieved US China chip ban won't bite, as Beijing fumes
The city-state was plagued by an ongoing scam involving Southeast Asia's second largest bank, the Overseas Chinese Banking Corporation , at the end of 2021. Threat actors stole a combined SG$13.7 million from 790 customers by spoofing text messages. Communications and information minister Josephine Teo said in 2021, 12,000 suspected scam websites were blocked, compared to only 500 in the previous year. At the peak of the OCBC scam, the government blocked 52 related sites in one day.
Singaporean officials advised that banks and consumers alike should share in the fallout and that it would work out a scheme to ensure equal responsibility for losses related to scams. On Wednesday, Singapore's Minister of State, Alvin Tan,MAS was still"working with the industry to finalize a framework for the equitable sharing of losses resulting from scams."
"It is taking us longer than expected to design a fair and effective framework that ensures shared responsibility across the ecosystem and incentives for each party to be vigilant against scams," said Tan. In the first half of 2022, the Singapore Police froze over 7,800 scam-related accounts and recovered more than $55 million.Singapore's government tabled a bill in parliament last Monday that would require social media companies with a sizeable presence in the city-state to limit exposure to harmful conduct or face a fine of up to $1 million and potentially have services disabled or blocked.
its China-based Google Translate app and site citing low usage. Google held tiny market share in China as its services are blocked and users required a VPN to access.it to crackdown on TLS encryption-based tools commonly used to circumvent the firewall.has left the cut-throat world of discount sushi raw and the CEO of Japanese chain restaurant Kappa Sushi unemployed.
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