Government official imposters duped scam victims out of a staggering $151.3 million in 2024
A total of 27 men and 7 women, aged between 17 and 46, suspected of relinquishing their bank accounts to scammers for money laundering were arrested in police raids across Singapore in March.
Another five people are being investigated.
Between March 17 and 28, officers from the Commercial Affairs Department Anti-Scam Command also conducted an island-wide operation targeting government official impersonation scams.
The officers worked closely with the local banks to trace victims' monies lost to these scams, freezing over 240 bank accounts that were complicit in these fund movements.
At least $955,000 in suspected scam proceeds were seized through intensified fund tracing.
The police also worked with other stakeholders, such as telecommunications companies, to terminate over 700 phones lines that were linked to scams.
In 2024, there were 1,504 government official impersonation scam cases reported with losses totalling a staggering $151.3 million.
In these scams, the scammers would contact victims through fraudulently acquired phone lines and messaging platforms and impersonate staff from banks, representatives from NTUC Union, Income Insurance and Unionpay, or officials from government agencies such the police or Monetary Authority of Singapore (MAS).
Those who received the phone calls from scammers impersonating bank officers would be asked to verify transactions allegedly made by the victims. When the victims denied making such transactions or possessing such bank cards, the first scammer would transfer the call to a second scammer claiming to be a government official.
Those who received the phone calls from scammers pretending to be from NTUC Union, Income Insurance and Unionpay would be informed that there were outstanding premiums associated with a new or expiring life insurance policy under their name. The victims would be redirected to a second scammer purporting to be an Income Insurance or Unionpay staff member who would request the victims' bank account details and personal credentials under the pretext of verifying their policy details.
All these victims would subsequently be redirected to another scammer impersonating officials from the police, Anti-Scam Centre or MAS.
The scammer would inform victims that their bank accounts had been implicated in money laundering activities or that their personal information had been compromised and they would have to transfer money to a specified bank account to assist in investigations.
The victims would comply and only realise that they had been scammed when the scammers became uncontactable.
Investigations are ongoing.
Government officials will never ask you to transfer money to bank accounts or request for your banking or Singpass information over the phone, said the police.
NTUC Union, Income Insurance and Unionpay representatives will never request personal information or payments to a personal bank account through unsolicited phone calls, emails, WhatsApp messages, or SMS. Any such requests should be treated as fraudulent.
