Singapore's Home Affairs Minister Sun Xueling reiterated the determination of government entities to crack down on fraud cases and will further strengthen existing anti-fraud measures, regulations and education during a debate on the Home Affairs budget at the National Assembly Appropriations Committee on Tuesday. She specifically mentioned cryptocurrency fraud cases, which accounted for a quarter of the total losses involved in fraud last year. She pointed out that fraudsters have recently noticed that banks are closely monitored and difficult to exploit loopholes. They instead instruct victims to exchange money for cryptocurrencies and then send money to avoid the review mechanism. There are also fraudsters who directly steal the assets of victims' cryptocurrency wallets. In the face of repeated fraud cases, the Home Affairs Ministry does not rule out the use of caning to punish those who commit serious fraud crimes. (Lianhe Zaobao)