Singapore's Monetary Authority (MAS) Deputy Chairman Chee Hong Tat, responding to a parliamentary question on behalf of Chairman Gan Kim Yong, stated that the existing Shared Responsibility Framework is designed for phishing scams involving unauthorised transactions and is not suitable for scams involving self-effected transfers, such as investment scams. This comes as investment scams recorded the highest losses among scam types in the first half of 2026. MAS highlighted that combating such scams requires vigilance from all parties, including online messaging platforms, banks implementing cooling periods for high-risk activities, and individuals taking practical steps to protect themselves.