In recent years, scams have become a growing threat in Singapore, affecting individuals across various demographics. Impersonation calls, email phishing and other sophisticated methods have left Singaporean citizens vulnerable.

According to the Singapore Police Force, out of 28,751 total cases of cybercrime between January and June 2024, scams accounted for 92.5%.

The Singaporean government created ScamShield in 2020, a platform designed to inform the public and prevent scams, providing information to fact-check whether a message, link or number is likely a scam. Additionally, people can also submit reports with screenshots for the relevant authorities to monitor. 

According to the platform, in 2023 Singaporeans lost a staggering Singapore $651.8m ($475m) to scams across 46,563 cases reported. In the first half of 2024, the number of cases rose by 16% and the total amount lost increased by almost 25%.

Financial Industry Disputes Resolution Centre (FIDReC), an alternative dispute resolution institution that mediates cases between financial institutions and their clients, has noted “rising incidents of fraud and scams” in recent years.

In 86% of cases, scammers manipulated people into transferring money direct to them instead of gaining access to their bank accounts, according to the Ministry of Home Affairs. 

Behind all of this, social engineering still stands as the main method of scam. According to Interpol, social engineering is the means used to “exploit a person’s trust in order to obtain money directly or obtain confidential information to enable a subsequent crime”. 

Examples include impersonating officials from the government, police or financial institutions. On this basis, statistics show that government official impersonations resulted in the highest financial impact, with victims suffering an average loss of S$116,534 per case in the first half of 2024. Investment scams were next, with victims losing an average of S$50,700 per case. 

There are also jobs scams, fraudulent schemes where scammers pose as employers or hires to deceive job seekers. They often involve fake job offers that require victims to pay upfront fees, provide personal information or perform tasks that lead to financial loss. Job scams and phishing scams, while less costly on average, still caused significant financial harm, with losses of S$13,692 and S$2,394 per case, respectively.

However, ‘fake friend’ call scams decreased from S$12.9m in the first half of 2023 to about S$8.1m for the same period in 2024. 

Scammers have become more versatile, adopting new scam methods. Instead of using foreign SIM cards to call victims, they are using local Singapore SIM cards, which makes calls appear legitimate and genuine, making it easier for victims to be fooled. 

In a CNA interview in 2024, Minister of State for Home Affairs, Sun Xue Ling, addressed the growing prevalence of scams, attributing it to the operations of organised syndicates that design different scams to target specific victim profiles, such as job seekers, online shoppers and even individuals looking for love. 

Since then, the government has enacted new legislation aimed at deterring the illegal use of local SIM cards, emphasising its importance in combating scam-related activities. 

Furthermore, telecommunications companies also blocked about 300 million scam calls from January to September 2023. The ‘money lock’ system, launched by banks, helps prevent money from being digitally transferred amid scam threats. 

In order to allow Singaporeans to easily decipher whether an SMS is sent by the government, all communications now have a new sender ID – gov.sg. This helps to protect citizens from potential government impersonation scams. 

The surge in scams underscores the evolving tactics of scammers and the urgent need for collective vigilance. While much effort has been made to deter scammers, the fight against them is far from over. 

Combating scams is not just a governmental responsibility but a shared effort that requires individuals to stay informed, cautious and ready to report suspicious activities.