Fraudsters are always on the lookout for targets and they are getting more creative and sophisticated in their efforts. Often, they tap on your emotions to trick you. This means that you, or someone you know could lose everything they own – in a matter of seconds.
Here are the top scams in Singapore you should watch out for:
Increased by 74% from 2021, with 4,762 victims in 2022
– Involves fake sellers or buyers on online marketplace or social media platforms.
– Visit the Ministry of Home Affairs website for safety ratings of major e-commerce marketplaces, and what to look out for when transacting online.
Fake Friends Scams
Increased by 207% from 2021, with 2,106 victims in 2022
– Typically involves a scammer calling a victim pretending to be a friend or acquaintance.
– They will then claim to be in urgent need of funds, seeking financial assistance from the victims.
Increased by 43% from 2021, with 6,492 victims in 2022
– Scammers may approach victims with job offers promising high returns with minimal efforts on messaging apps or social media.
– May claim they are from legitimate recruitment companies.
Increased by 26% from 2021, with 3,108 victims in 2022
– Be wary of people offering investment returns that are unreasonably high.
– Online trading platforms that offer binary options may be fraudulent.
– Be cautious of unfamiliar platforms or entities based outside of Singapore.
Source: Statistics and data taken from Channel News Asia, released by the Singapore Police Force (SPF)
Anyone and everyone can ACT against scams.
– Add security features
– Check for signs
– Tell the authorities, friends and family
Stay vigilant. If it sounds too good to be true, it usually is.
Click here to learn more about how you can ACT against scams.