Singapore's "2025 Anti-Fraud Protection Act" has officially taken effect, providing stronger legal tools to combat the increasingly rampant online fraud. The new law grants the police greater authority to freeze bank accounts preemptively when there is a risk of individuals transferring money to fraudsters, even if the funds have not yet been transferred, to prevent actual losses to the victims.
The Ministry of Home Affairs in Singapore stated that this law is a key measure to "plug the last gap in the anti-fraud system," allowing the police to intervene proactively before the occurrence of fraud, truly achieving "prevention before it happens."
Under the act, when the police or the Commercial Affairs Department determines that someone is "very likely" to use funds for fraudulent transactions, or to assist a fraud syndicate through credit card cash withdrawals, loans, etc., a "restriction order" can be issued to temporarily limit some or all functions of their account. The frozen services include online bank transfers, ATM operations, card payments, and loan withdrawals.
This type of freezing will be implemented as a "last resort," only when the police are unable to contact the person or their relatives and confirm an urgent risk. Each restriction order is valid for up to 30 days and can be extended up to five times, totaling no more than 180 days. Once the police assess that the risk has been mitigated, the account will be promptly unfrozen.
The new regulations currently apply to Singapore's seven major banks, including DBS Bank, OCBC Bank, UOB, Citibank, HSBC, Maybank, and Standard Chartered Bank. If necessary, other bank accounts may also be included in the future.
If the frozen account involves daily living expenses, the person can still apply to the police for a "living exemption" to pay bills or purchase necessities. The police will review each case and decide whether to approve it.
The Minister of State for Home Affairs, Sun Xueling, stated that fraudsters are constantly innovating their methods, and traditional anti-fraud mechanisms are no longer sufficient to handle all situations. She pointed out: "We must intercept the money before the fraudsters succeed. The new law is designed for such emergencies, ensuring that funds are protected at the most critical moment."
The implementation of this new law marks a further upgrade in Singapore's financial anti-fraud policies and also provides a useful reference for other countries.
