Singapore Lawmakers Confront Worldcoin Privacy Risks and Account Misuse

Singapore’s Deputy Prime Minister Gan Kim Yong addressed Parliament about Worldcoin’s operations, highlighting risks including potential money laundering through account sales.

He noted that while Worldcoin isn’t a payment service under current laws, trading accounts might breach regulations. Ongoing investigations involve seven individuals suspected of illegal Worldcoin transactions.

Gan urged the public to avoid transferring accounts due to data privacy and criminal misuse risks. He also stressed that Worldcoin must comply with Singapore’s Personal Data Protection Act (PDPA), emphasizing the need for caution with digital wallets and World IDs.

Clever Robot News Desk 12^th September 2024