Date: For Parliament Sitting on 9 September 2026

Name and Constituency of Member of Parliament

Ms He Ting Ru, Sengkang GRC

Question

Ms He Ting Ru: To ask the Prime Minister and Minister for Finance (a) whether the Government has assessed the effectiveness of the enhanced bank safeguards implemented from October 2025 against scams involving AI-generated deepfake impersonation, including a case involving a loss of around $5 million; (b) what gaps, if any, have been identified and (c) what further measures are being considered.

Answer by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry (Trade), and Chairman of MAS:

1. Bank safeguards alone will not fully prevent scams. To minimise the risk of scams, we need a multi-layered approach involving all ecosystem players, including the public.

2. First, we strengthen controls upstream on platforms where scams are propagated. In its latest initiative, the Singapore Police Force (SPF) issued new and enhanced Codes of Practice, or COPs, for designated online services in August 2026. This includes a new COP for Online Messaging and Conferencing Services, which introduces requirements to prevent the spoofing of the Singapore Government through profile names or pictures. The Government will also help members of the public identify legitimate Government communications by introducing a single, easily recognisable prefix number for all calls to members of the public.

3. Second, MAS has worked with banks to enhance fraud surveillance to block or hold further transfers once they detect a rapid draining of accounts. Banks have introduced delays of 12 hours or more when customers perform higher-risk transactions, such as adding of new payees and raising transfer limits. PayNow nicknames have also been removed to prevent scammers from misusing them to masquerade as legitimate individuals or organisations. These moves reduce the risks of scams but a balance needs to be struck, because they add friction and inconvenience for customers in conducting their banking transactions.

4. Third, public education initiatives have been launched to alert and caution members of the public against current scam types. SPF issues regular scam advisories that are published in the media. Banks have also issued advisories to their customers to caution against deepfake-enabled scams.

5. Fourth, the public plays a critical role against impersonation and other scams resulting in self-effected transfers. The measures introduced provide multiple layers of protection by narrowing avenues for exploitation and allowing potential victims time to pause, check and confirm before proceeding with any transfers. Public vigilance remains key. Members of the public should raise their suspicion if they see videos with signs of deepfakes, such as lip movements that do not align naturally with speech, unnatural facial expressions or visual distortions around the face.

6. It is important to be very careful when asked by any party for money. Please remember that Government officials will never ask members of the public to transfer money, or to disclose bank account details. If the request for money is seemingly from a company or someone you know, call and verify it first using known and reliable contact numbers. If in doubt, please check with the 24/7 ScamShield Helpline at 1799.

7. The multi-layered safeguards and public vigilance that we have implemented thus far have led to a reduction in impersonation scam cases and losses. However, we cannot be complacent and need to keep up our vigilance. The Government will also continue to assess evolving scam techniques and work with ecosystem partners to adjust our counter-measures.

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