Image credits - The Star
Singapore has witnessed a staggering 137.5% increase in Telegram-related scams in the first half of 2024, as detailed in a recent report by the Singapore Police Force (SPF). This surge forms part of a broader 16.3% rise in total scam cases, which reached 26,587 incidents, with reported losses totaling at least S$385.6 million (US$295 million). The total amount lost represents a significant 24.6% increase compared to the same period last year.
Among the various types of scams, investment frauds have emerged as the most common, accounting for 38.6% of all scam cases. The report highlights that Telegram, along with other platforms such as Facebook, WhatsApp, and Instagram, has become a popular medium for scammers to target victims. The SPF notes that these platforms are frequently exploited to initiate contact and perpetrate fraud.
Investment Scams are currently the most prevalent, with a significant share of the total cases. It has driven a substantial portion of the financial losses reported. Government officials impersonation has seen a dramatic rise, with 580 cases reported and losses of approximately S$67.5 million. The average loss per victim in these cases was around S$116,534. The scams typically involve fraudsters posing as government officials or bank representatives. E-commerce and job scams remain widespread, contributing significantly to the overall number of scams. The SPF’s report indicates that e-commerce scams are particularly prevalent, alongside job scams which continue to deceive many individuals.
Minister of State for Home Affairs and Social and Family Development Sun Xueling expressed concern over the rising trend of scams, particularly those involving social engineering tactics. “This increase in scams underscores the importance of improving public awareness and education on recognizing and avoiding these sophisticated fraud schemes. We need to ensure that individuals are well-informed and not easily manipulated into transferring funds to scam accounts,” she said.
The SPF has urged the public to be vigilant and skeptical of unsolicited messages or requests for money, particularly on social media platforms. As scammers become more sophisticated, it is crucial for individuals to remain informed about the latest scam tactics and to report any suspicious activities to the authorities promptly.
As Singapore continues to address the growing threat of scams, efforts will be focused on enhancing public education and leveraging technology to combat fraudulent activities.