Singapore banks back a new law allowing police to restrict accounts suspected of being scam targets, aiming to curb rising fraud cases. The Protection from Scams Bill, passed Tuesday, lets police issue restriction orders to banks, limiting transactions on accounts for up to 30 days, extendable five times. The measure seeks to protect victims from financial loss, with restricted account holders required to seek police approval for essential expenses. Police data shows scam and cybercrime cases in Singapore caused losses of SGD385.6m (USD282m) in the first half of 2024, a 24.6% rise from a year earlier. The Association of Banks in Singapore emphasised the need for public vigilance against fraud, despite ongoing efforts to strengthen anti-scam measures.