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10 types of scams in Singapore and how to avoid them

STLRAxis Team

Singapore’s reputation as a safe and tech-savvy nation hasn’t spared it from the global surge in scams. In 2023 alone, over $650 million was lost to scams, with phishing, fake friend calls, and investment fraud topping the list. Below, we break down the most prevalent scams in Singapore and how to protect yourself.


1. Phishing Scams

How It Works:

Scammers impersonate banks, government agencies (e.g., SingPass, IRAS), or popular platforms (Shopee, Lazada) via SMS, emails, or fake websites. Victims are tricked into sharing personal data, banking credentials, or OTPs.

Example:

  • A text claiming to be from “DBS Bank” warns of a locked account, urging you to click a link to “verify details.”

Red Flags:

  • Urgent language (“Act now!” or “Account suspended!”).
  • Suspicious links (e.g., dbs-update.com instead of dbs.com.sg).
  • Requests for OTPs or passwords.

Prevention Tips:

  • Never click links in unsolicited messages.
  • Verify directly via official apps or hotlines.
  • Enable two-factor authentication (2FA) for banking.

2. Fake Friend Call Scams

How It Works:

Scammers pose as relatives, friends, or colleagues in distress, claiming they need urgent financial help (e.g., arrested, hospitalised). Voice-cloning AI is increasingly used to mimic loved ones.

Example:

  • A call from “your nephew” claiming he was in an accident and needs money for surgery.

Red Flags:

  • Pressure to transfer money immediately.
  • Requests to keep the situation secret.

Prevention Tips:

  • Verify the story by calling the person directly on a known number.
  • Ask personal questions only the real person would know.

3. Investment Scams

How It Works:

Fraudsters lure victims with “guaranteed high returns” through social media ads, WhatsApp groups, or fake trading platforms. Victims are asked to deposit funds, only to lose everything.

Example:

  • A TikTok ad promoting a “risk-free” cryptocurrency investment with 200% returns.

Red Flags:

  • Unregistered platforms or “advisors.”
  • Pressure to invest quickly.

Prevention Tips:

  • Check the MAS Financial Institutions Directory for licensed entities.
  • Avoid investments that sound too good to be true.

4. E-Commerce Scams

How It Works:

Fake sellers on Carousell, Facebook Marketplace, or Shopee list discounted products (e.g., concert tickets, electronics). After payment, the item never arrives.

Example:

  • A Carousell seller offers a PS5 at half price but disappears after payment.

Red Flags:

  • Prices far below market value.
  • Requests for advance payment via PayNow or bank transfer.

Prevention Tips:

  • Use platforms with buyer protection (e.g., Shopee Guarantee).
  • Meet in person for high-value items and inspect before paying.

5. Job Scams

How It Works:

Fraudsters post fake job ads (e.g., remote admin roles, “money-lending agent”) requiring upfront payment for “training” or “administrative fees.” Victims receive no job and lose their money.

Example:

  • A Telegram message offering $500/day for a “part-time remote job” that requires a $200 “registration fee.”

Red Flags:

  • Requests for payment to secure a job.
  • Vague job descriptions.

Prevention Tips:

  • Research the company on MyCareersFuture or the ACRA website.
  • Refuse to pay for employment opportunities.

6. Government Impersonation Scams

How It Works:

Scammers pretend to be from the police, MOH, or CPF Board, accusing victims of crimes (e.g., money laundering, visa violations) and demanding payments to “settle” fines.

Example:

  • A call from “SPF” claiming your SingPass was used for illegal activities and threatening arrest unless you transfer funds.

Red Flags:

  • Threats of legal action or deportation.
  • Requests for payment via iTunes cards or cryptocurrency.

Prevention Tips:

  • Government agencies never demand payments over calls.
  • Hang up and call the agency’s official hotline to verify.

General Prevention Tips

  1. Install ScamShield: Singapore’s anti-scam app blocks spam calls and SMS.
  2. Verify Independently: Use official websites or hotlines—not contact details provided in suspicious messages.
  3. Educate Vulnerable Groups: Elderly and teenagers are common targets. Share scam alerts with them.

What to Do If You’re Scammed

  1. Contact Your Bank Immediately to freeze accounts.
  2. File a Police Report via the Police Hotline (+65 1800 255 0000) or online.
  3. Report the Scam to the Anti-Scam Helpline (+65 1800 722 6688).

Stay vigilant and share this knowledge with others! For real-time scam alerts and resources, visit ScamWatch360. Remember, skepticism is your best defense in a world where scams are just a click away. 🔒