{"id":16836,"date":"2024-09-10T13:04:29","date_gmt":"2024-09-10T10:04:29","guid":{"rendered":"https:\/\/forklog.com\/en\/singapore-investigates-worldcoin-account-sales-arrests-made\/"},"modified":"2024-09-10T13:04:29","modified_gmt":"2024-09-10T10:04:29","slug":"singapore-investigates-worldcoin-account-sales-arrests-made","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/singapore-investigates-worldcoin-account-sales-arrests-made\/","title":{"rendered":"Singapore Investigates Worldcoin Account Sales, Arrests Made"},"content":{"rendered":"<p>Singaporean police are investigating seven individuals suspected of selling Worldcoin accounts and providing token trading services. This involves a potential breach of the Payment Services Act, <a href=\"https:\/\/www.mas.gov.sg\/news\/parliamentary-replies\/2024\/written-reply-to-parliamentary-question-on-risks-relating-to-worldcoin-in-singapore\">reported<\/a> Deputy Prime Minister Heng Swee Keat.<\/p>\n<p>According to the <span data-descr=\"Monetary Authority of Singapore\" class=\"old_tooltip\">MAS<\/span>, Worldcoin itself is not classified as a payment service, but those trading accounts and tokens of the project might be offering such a service. This requires obtaining a license for further operations.<\/p>\n<p>Heng Swee Keat warned users against giving access to their tokens or World ID identifiers, as these accounts could be exploited by third parties.<\/p>\n<p>In August, Singaporean police <a href=\"https:\/\/www.police.gov.sg\/media-room\/news\/20240807_four_men_and_one_woman_arrested_for_suspected_involvement\">arrested<\/a> five individuals suspected of buying or selling Worldcoin accounts and tokens.\u00a0<\/p>\n<p>Preliminary data suggests that three of them recruited people on behalf of various organizations to create accounts on the platform for a reward. The accounts were then transferred to two other individuals involved.<\/p>\n<p>During the operation, police seized over 200 mobile phones. If found guilty, the suspects face fines of up to $125,000 or imprisonment for up to three years.<\/p>\n<p>The investigation is ongoing.<\/p>\n<p>Worldcoin is working on creating a global digital identification and financial network. The protocol verifies a user&#8217;s identity through iris scanning.\u00a0<\/p>\n<p>Regulators in many countries have expressed concerns over such biometric data collection. Authorities in France, the United Kingdom, <a href=\"https:\/\/forklog.com\/en\/news\/worldcoin-faces-15-drop-amid-hong-kong-investigation\">Hong Kong<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/colombia-investigates-worldcoin-for-alleged-legal-violations\">Colombia<\/a>, Argentina, and others have launched investigations into potential privacy violations of citizens.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singaporean police are investigating seven individuals suspected of selling Worldcoin accounts and providing token trading services. This involves a potential breach of the Payment Services Act, reported Deputy Prime Minister Heng Swee Keat. According to the MAS, Worldcoin itself is not classified as a payment service, but those trading accounts and tokens of the project [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,946,1327],"class_list":["post-16836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-singapore","tag-worldcoin"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16836"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16835"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}