Singapore won this deal, Singapore is a very very small market, India a very very Big country, now the biggest market in India and it will only grow, The prediction that India will have more ppp economy than any countries in the world including china. Singapore won in this round.
@@sushilsharma4202 bcoz Indians will always look for options to save, as most of the population is middle class, and visa, MasterCard are not cheap for most people and moat shops in India don't have a ready handheld ATM, but they can easily put a small board with a qr code printed on it, connected to account, hence the adoption rate was superb, visa MasterCard are capitalist companies, where as npci is for public welfare....
In conclusion, I advocate for the reform of Singapore’s legislation to shift the focus of financial crime to the victim’s perspective, as suggested by Mr Gautam. Singapore has the framework for this, but what is needed is the political will to address the issues arising from international financial crime and the practical difficulties victims face in obtaining restitution for their losses. The laws must be amended to come in line with the current thinking, which emphasizes the victim’s perspective and restitution rather than punishment. Victims of financial crime need a justice system that is fair, practical, and effective in meting out appropriate penalties and providing meaningful restitution.
There is a clear lack of determination and robust AML measures in Singapore’s banking system that allows these financial scams to prevail and penetrate. Without these mule bank accounts, these scams would not be successful. Taiwan and China prosecute the mules through civil lawsuits undertaken by assigned public prosecutors, acknowledging that scam victims are drained financially and devastated emotionally. They recognize that victims often do not have the resources to undertake any civil suits to seek justice and obtain compensation. Meanwhile, in the UK, banks are required by legislation to compensate victims’ losses for transfers made due to APP scams (Authorized Push Payments).
I would like to urge Singapore’s justice system to consider the frameworks of the United Kingdom and Taiwan/China. In their pursuits to give justice and realistic assistance to scam victims in this era of the prevalence of cybercrimes, they have amended legislation to mete out appropriate jail sentencing but give more weightage to financial resources to victims. We see two main conduits that facilitate these cyber scams/financial frauds to execute successfully: banks and crypto exchanges that administer bank accounts (or/and crypto accounts) and the mules who open these accounts. Mules who unintentionally surrender their accounts to be used for these fraudulent activities should not be exempt from responsibility. They should be held accountable by compensating the victims in accordance with the law. Furthermore, banks and crypto exchanges that provide these accounts should also be made responsible for their complicit roles.
No, never My friend, UPI is linked with Mobile number and national identity card number. we normally send money to our friends and family. no one can dare to scam us because it is linked with mobile number and national identity card number. he will be caught in hours. so Don't worry to send money to india by using UPI. It is very safe . each month billions of transactions happening in India. but never seen any single problem.
Not possible because already one billion people in India using daily basis for even having a cup of tea we spend using upi which is much faster and safer than physical cash
Thank u Singapore and congratulations india🎉
Lies again? Paramount Network
India are forward in this technology
Singapore won this deal, Singapore is a very very small market, India a very very Big country, now the biggest market in India and it will only grow,
The prediction that India will have more ppp economy than any countries in the world including china.
Singapore won in this round.
Bold of you to assume. Free market economy works a lil different than states in India.
Visa and Mastercard tried hard enough to change, but couldn't.
@@sushilsharma4202 bcoz Indians will always look for options to save, as most of the population is middle class, and visa, MasterCard are not cheap for most people and moat shops in India don't have a ready handheld ATM, but they can easily put a small board with a qr code printed on it, connected to account, hence the adoption rate was superb, visa MasterCard are capitalist companies, where as npci is for public welfare....
Good move.
🇮🇳 🤝🇸🇬
Real time transaction done when i return from singapore to india..sees amazing tech transformation
In conclusion, I advocate for the reform of Singapore’s legislation to shift the focus of financial crime to the victim’s perspective, as suggested by Mr Gautam.
Singapore has the framework for this, but what is needed is the political will to address the issues arising from international financial crime and the practical difficulties victims face in obtaining restitution for their losses. The laws must be amended to come in line with the current thinking, which emphasizes the victim’s perspective and restitution rather than punishment.
Victims of financial crime need a justice system that is fair, practical, and effective in meting out appropriate penalties and providing meaningful restitution.
Time to kill Swift , 😂😂😂
Yes 😂
Will i be able to scan a PayNow QR code with my Indian UPI app and be able to pay?
Hi have you found out yet?
UPI doesn't work without QR code.
So, the answer is yes and you can send via mobile number also.
@@maheshchandra0409it doesn’t work, I’ve tried it :/ with either qr or phone no.
How a U.S. swift money transfer going to be? Is it the start of non U.S. banking system transfers in Asia??
this is without swift..direct settlement between SG and Indian banks
Swift is not all Swift when you compare this with UPI....
Upi is instant which bypasses dollar
It's within 5 sec
@@kaustubhraizadamore like 2
Congratulations Singapore 🎉👏
🤮🤧🤮🤧🤮🤧🤮🤧🤮🤧🤮🤧🤧🤧🤮🤧🤮🤧🤮🤧🤧🤧🤮🤧🤮🤧🤮🤧🤧🤧
There is a clear lack of determination and robust AML measures in Singapore’s banking system that allows these financial scams to prevail and penetrate. Without these mule bank accounts, these scams would not be successful.
Taiwan and China prosecute the mules through civil lawsuits undertaken by assigned public prosecutors, acknowledging that scam victims are drained financially and devastated emotionally. They recognize that victims often do not have the resources to undertake any civil suits to seek justice and obtain compensation. Meanwhile, in the UK, banks are required by legislation to compensate victims’ losses for transfers made due to APP scams (Authorized Push Payments).
👍👍👍👍👍
Well said indeed. 👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽
Boycut dollar 💰
Bye bye dollar
Wonderful! 👍👍
🤮🤧🤮🤧🤮🤧🤮🤧🤮🤮🤮🤮🤧🤮🤮🤮🤧🤮🤮🤧🤮🤮🤧🤮🤧🤮🤧🤮🤧🤧
good work
Import everything from India
Lol cow dung? Lmao
@@chikiboomboom665 well,cow dung can be alternative to Chemical fertilizer. It is a excellent source organic fertilizer.
@@thewalker338 and gulf countries are importing that
Chinese bots are active
@@chikiboomboom665 Damn, you must be very knowledgeable person.
I see here some people are just not happy
How degradation of people can be
Accept good work which is done by someone who you don't like
I would like to urge Singapore’s justice system to consider the frameworks of the United Kingdom and Taiwan/China. In their pursuits to give justice and realistic assistance to scam victims in this era of the prevalence of cybercrimes, they have amended legislation to mete out appropriate jail sentencing but give more weightage to financial resources to victims.
We see two main conduits that facilitate these cyber scams/financial frauds to execute successfully: banks and crypto exchanges that administer bank accounts (or/and crypto accounts) and the mules who open these accounts.
Mules who unintentionally surrender their accounts to be used for these fraudulent activities should not be exempt from responsibility. They should be held accountable by compensating the victims in accordance with the law.
Furthermore, banks and crypto exchanges that provide these accounts should also be made responsible for their complicit roles.
Unrelated
RIP forex in near future
Will this benefit scammers?
It can but you can revert back the money if sent incorrectly by just visiting the bank and writing a letter to the bank manager
No, never My friend, UPI is linked with Mobile number and national identity card number. we normally send money to our friends and family. no one can dare to scam us because it is linked with mobile number and national identity card number. he will be caught in hours. so Don't worry to send money to india by using UPI. It is very safe . each month billions of transactions happening in India. but never seen any single problem.
Chinese bot
@@NomadicTraveller you r not Singaporean I guess.
Not possible because already one billion people in India using daily basis for even having a cup of tea we spend using upi which is much faster and safer than physical cash