1,100 scam cases and $51.7 million of potential losses averted by police, banks in 2-month stint
A two-month-long joint operation between the police and four banks resulted in the successful prevention of more than 1,100 scam cases and potential losses of $51.7 million.
This was done through the deployment of Robotic Process Automation (RPA) technology, which significantly reduces the police's response time in identification of victims entrenched in government official impersonation scams, job scams, investment scams, fake friend call scams and e-commerce scams.
The scam victims are alerted through SMS notifications, mitigating the risk of financial losses.
The four participating banks are DBS, OCBC, SCB and UOB.
Police said that Anti-Scam Centre (ASC) officers and the four banks sent over 5,600 SMS messages to more than 3,500 bank customers identified as potential scam victims between March 1 and April 30.
They added: "Through these efforts, $51.7 million of potential losses were prevented.
"This timely detection and intervention initiative proved crucial in disrupting scam attempts, protecting victims before they could transfer their savings to fraudsters."
Members of the public are urged to 'ACT' against scams:
1. ADD security features such as the ScamShield application and twofactor authentication for personal accounts, such as banks, social media, and Singpass accounts. Transaction limits for internet banking, including PayNow, could also be set up to limit the amount of funds that can be lost in the event of a scam.
2. CHECK for potential signs of a scam by asking questions, fact-checking requests for personal information and money transfers, and verifying the legitimacy of online listings and reviews. Take the time to pause and check. If it is too good to be true, it is probably untrue, and a scam.
3. TELL the authorities and others about scam encounters by reporting to the bank, ScamShield, or by filing a police report. Tell others about ongoing scams and preventive steps they can take. Report the fraudulent pages and/or monikers to the respective platforms.
For more information on scams, members of the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799.
Anyone with information on such scams may call the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/i-witness. All information will be kept strictly confidential.
