Rise in Sophisticated Scams Targeting Financial and Personal Data
Authorities are warning the public about a surge in elaborate scams where criminals pose as representatives from legitimate organizations like banks,insurance providers,payment platforms,airlines,and telecommunication companies. These con artists initiate contact claiming victims have engaged in financial transactions, have unpaid insurance premiums (either for new or renewing policies), or that their personal banking details – including phone numbers – have been linked to fraudulent activity.
When individuals deny any involvement, thay are often transferred to another scammer impersonating a government authority. These imposters represent entities such as the Monetary Authority of Singapore, the Singapore Police Force (SPF), the Ministry of Law, or even Chinese law enforcement. They then falsely accuse the victims of serious crimes, including money laundering.
The scammers afterward instruct victims to transfer cryptocurrency to a designated “safe account” purportedly for investigative purposes. They frequently direct victims to download cryptocurrency applications like coinbase, OKX, or StraitsX.Victims are then guided to purchase and transfer cryptocurrencies to a specific wallet address, and in some instances, are even provided with pre-set email addresses and passwords to create new accounts.
The deception is typically uncovered only when the scammers become unreachable, or when victims independently verify the situation with the SPF.
Police strongly advise the public to refrain from transferring funds or providing valuables, notably cryptocurrencies, to unkown individuals. Crucially, legitimate government officials will never request personal information over the phone, ask for money transfers, or redirect calls to the police. They also will not instruct individuals to download applications from unofficial sources.
For further information and resources regarding scams, please visit www.scamshield.gov.sg.
