NEWS: How laws the world over are evolving to catch scammers

The Edge TV

Derek John Fernandez from the MCMC gives a sobering view on how fast the laws have to be able to evolve in order to catch scammers.

Transcript

00:00 laws are being passed in the European Union

00:03 and in other countries that talk about allocation

00:06 of risk for loss, that whose responsibility is it?

00:10 And more and more now, the governments of the world

00:14 are pushing that responsibility to those

00:16 who provide the platforms,

00:17 that they must protect their customers.

00:20 So an e-commerce site should first of all know

00:24 who is hosting products and services on their site.

00:27 They must be a know your customer policy.

00:30 Number two, that person who is hosting goods and services

00:35 must be disclosed so that if there's any fake goods,

00:39 there is legal recourse from the buyer

00:42 against the entity or person,

00:44 not somebody hidden anonymously or in records

00:48 that are not made public to the police

00:51 or to the law enforcement operators.

00:54 It's a bit like this.

00:55 If we have this room here,

00:57 what traditionally was the argument

00:59 is I only provide the trading room.

01:00 You all come in, you all sell to each other,

01:02 that's all your business.

01:03 It's not my responsibility to prepare that forum.

01:07 But I really wanna enter the room, let's pay a fee.

01:09 So more and more people are saying that,

01:11 but if so many criminal activities are taking place

01:14 in that room, I think you have a responsibility

01:17 to ensure who is entering the room

01:19 and to be responsible for the safety of others in that room.

01:22 That thinking is now emerging in terms of trying

01:26 to combat what is an evolving threat.

01:29 And there are always a few steps ahead with the technology.

01:32 And that's understandable because they're dedicated.

01:34 We have to get it right all the time.

01:36 They only have to get it right once.

01:38 And so they have the edge in that.

01:40 And that has to be met by everybody playing their role,

01:42 putting a multi-level approach,

01:44 including those who run the platforms

01:48 and who run the telecommunication services.

01:50 So in fact, MCMC is now trying to regulate

01:52 what we call OTT platforms.

01:53 And I think way over everybody is doing that now

01:56 and the debate is going on.

01:57 [BLANK_AUDIO]

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