CandleFocus Crypto Fraudsters Can be Fined, Jailed and Now Also 'Caned' by Authorities
2025-03-05
Author: Content Editor
Authorities in Singapore are considering imposing caning as a punishment for crypto fraud in an attempt to deter financial crimes. The government is concerned about the increasing use of digital assets in cryptocurrency scams, which accounted for a quarter of fraud-related losses last year. Singapore recently passed the Protection from Scams Act, granting police temporary power to restrict transactions of suspected scam victims. Caning is a form of corporal punishment currently enforced in Singapore for various offenses.
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