Singapore: PonteSud – News Desk
Social media company Meta is aiming to roll out a shared intelligence platform with local banks in Singapore to combat the scam scourge.
This comes as it looks to form a closer partnership with the Republic’s law enforcement agencies to dismantle scam syndicates.
First unveiled in the United Kingdom and Australia in 2024, Meta’s Fraud Intelligence Reciprocal Exchange (Fire) is a platform that allows banks to share threat intelligence with the firm directly.
Speaking to the media on June 12, Meta’s Singapore and Asean head of public policy Clara Koh said the firm is ready to roll out the programme globally through an industry consortium – the Financial Services Information Sharing and Analysis Centre.
She said that currently, Meta’s customers who become victims of scams on its platforms have to report their experience to the firm.
With Fire, Meta – the parent company of Facebook, Instagram and WhatsApp – will also be able to receive intelligence on scammers or victims from banks.
During a six-month pilot with UK banks NatWest and Metro Bank, Meta was able to remove some 20,000 accounts run by scammers from 185 website addresses shared by the banks.
Ms Koh was one of the panellists at an anti-scam awareness event organised by Meta on June 12 at the firm’s office at Marina One.
The panel also included the Singapore Police Force’s Superintendent Rosie Ann McIntyre, who is assistant director of the Scam Public Education Office’s operations department, and the National Crime Prevention Council’s Mr Nicholas Khoo.
During the discussion, Supt McIntyre said that people should not be fearful if an unknown person is attempting to call or reach them through e-mail.
Instead, it is important to slow down and assess the situation.
“The important thing is not to respond immediately, not to transfer money, because once it’s out, it’s out. The important thing is not to click a link,” said Supt McIntyre.
Ms Koh said that some scams – such as ticketing scams linked to big events like mega concerts or summits – can be anticipated, which means the authorities can prepare against a spike in fraud attempts ahead of time.
But others are difficult to predict. Most scams, like love scams or impersonation scams, are evergreen, which make it challenging to get ahead of, Ms Koh said.
She said Meta is also committed to fighting the scam scourge beyond just its online platforms – highlighting the human trafficking cost that comes with scam compounds run by organised crime.
