Malaysia - Singapore step up social security controls Aiming at protecting the public from online fraudsters

Malaysia and Singapore step up regulation on online platforms Focused on protecting youth and the public From social threats, it is pointed out that ASEAN has many victims of being deceived by online scammers.

On July 23, 2567, the Nikkei Asia news agency reported that Malaysia and Singapore are increasing regulations on social media and platforms to tackle online scams and protect youth from online dangers.

Southeast Asia has the highest number of social media users. The increased use of online platforms may increase the risk of fraud as well. By using various online platforms On average (by people aged 16-64 years) in each country are as follows:

• Philippines 8 platforms
• Malaysia 7 platforms
• Indonesia 7 platforms
• India 7 platforms
• Singapore 6 platforms
• Thai 6 platforms
• Vietnam 6 platforms
• China 5 platforms
• South Korea 5 platforms
• Japan 4 platforms

Mr. Adrian Hia from Kaspersky specify that Cybercriminals and fraudsters are taking advantage of social media and e-commerce platforms to conceal their identities to commit illegal acts such as phishing or identity theft by creating fake websites. or fake apps that look real Hacking or ransomware attacks and online scams

Singapore has designated social media platforms and e-commerce platforms. Actively manages and responds to fraud and malicious activity. Malaysia will license platforms such as Facebook, X and TikTok, as well as WhatsApp.

Malaysia's new regulations Which will come into effect by the end of 2567, it will require social media platforms to apply for licenses from the authorities and to renew their licenses annually. Platforms that fail to comply will be considered in violation of the law and may be fined up to RM500,000 (US$107,000).

The Malaysian Communications and Multimedia Commission (MCMC) aims to create a safer online environment. Especially for young people with this new regulatory framework. The license will apply to social media platforms with 8 million or more users, or 25% of Malaysia's population.

Malaysia will also implement tools that can quickly remove or disable content determined to be harmful, illegal or threatening. to stop the spread of this content immediately

The Ministry of Home Affairs of Singapore has issued a new law. For social media platforms like Facebook and e-commerce platforms like Carousell, which experienced 70% of fraud cases last year, these platforms are required to verify the identities of sellers found to be high risk. and users who advertise or selling various products and services must be inspected by the government.

Singapore aims that if online fraud is not reduced by the end of 2567, scrutiny could be extended to all sellers on all e-commerce platforms.

Mr Hea praised Singapore's new regulations as an important step in protecting online platforms and users from cyber threats and online fraudsters, whose scam patterns are constantly changing and It's getting more and more complicated. He emphasized that phishing is a big and dangerous cybercrime. Because scammers don't have to spend a lot of time. It also has a high success rate. And there is a high chance of scamming money or information from victims.

refer : asia.nikkei.com