Over $33 million in losses averted as police and 5 banks foil over 500 scams
The Anti-Scam Centre (ASC) of the Singapore Police Force, working closely with DBS, UOB, OCBC, Standard Chartered Bank and GXS Bank, has disrupted more than 500 scam attempts.
These scam attempts involved government official impersonation scams, job scams, investment scams, fake-friend call scams and e-commerce scams.
According to the police, the use of Robotic Process Automation (RPA) technology enabled faster information sharing between the ASC and participating banks.
This helped officers swiftly identify potential victims and intervene before funds were transferred to scammers.
Between Sept 1 and Oct 31, ASC officers and partner banks sent over 4,300 SMS alerts to more than 4,000 bank customers flagged as potential scam victims. These timely alerts helped avert more than $33 million in losses.
The police urged the public to "ACT" against scams by following these precautions:
ADD - Install the ScamShield app and enable security features such as two-factor authentication for banking, social media and Singpass accounts. Set up transaction limits for internet banking and PayNow to reduce potential losses.
CHECK - Look out for possible scam signals by asking questions, verifying requests for personal information or money transfers, and checking the legitimacy of online listings and reviews. Take time to pause and verify - if it seems too good to be true, it probably is.
TELL - Report scam encounters to banks, ScamShield, or the Police. Inform others about ongoing scams and protective steps they can take. Report fraudulent pages or usernames on the respective platforms.
For more information on scams, members of the public can visit the ScamShield website or call the ScamShield Helpline at 1799. Those with information about scams may contact the Police Hotline at 1800-255-0000 or submit details online via the i-Witness platform. All information provided will be kept strictly confidential.
