Number of government official impersonation scams in 2024 rise to almost double that of 2023
More government official impersonation scams have been reported this year, with at least 1,100 cases in the first 10 months alone.
This is almost double that of the same period in 2023, said the Singapore Police Force (SPF) and Monetary Authority of Singapore (MAS) in a joint statement on Saturday (30 Nov).
Source: David Hahn on Unsplash. Photo for illustration purposes only.
S$120M lost to impersonation scams from Jan-Oct 2024
Government official impersonation scams involve scammers posing as banks and government officials, said SPF and MAS.
From January to October 2024, the 1,100 cases reported resulted in total losses of at least S$120 million.
This is compared with the first 10 months of 2023, when at least 680 cases were reported with total losses amounting to at least $67 million.
Victim will first get call from ‘bank officer’
Impersonation scams start when the victim gets an unsolicited call from a scammer.
They would impersonate a bank officer, typically from DBS, OCBC, UOB or Standard Chartered Bank.
Victims are typically informed that a credit card has been issued in their name or that suspicious or fraudulent transactions have been detected in their bank account.
They are then asked to confirm these transactions, which they naturally deny.
Another scammer will impersonate govt official
Next, the victim is transferred to a second scammer impersonating a government official, often from the SPF or MAS.
In some cases, the scammer even makes a video call, dressing up as the official and displaying fake badges along with the agency’s logo in the background.
The scammer may later move the conversation to a messaging app such as WhatsApp, using a fake profile.
Fake warrant cards or fake official documents may also be produced to add to their believability.
The scammer typically informs the victim that they are under investigation for criminal activities such as money laundering.
To “assist in the investigation”, the victim is instructed to transfer money to specific bank accounts.
Victims often realise they have been scammed only after the scammers become uncontactable or when they verify the situation with their bank or the SPF.
Public alerted to rise in impersonation scams in 2024
The SPF and MAS have issued a public alert regarding the increase in impersonation scams.
MAS clarified that banks will never transfer calls to external parties, such as the police or government officials.
Members of the public should also adopt the following precautionary measures:
- add security features to their mobile devices and online bank accounts
- check for signs of scams with the ScamShield app, website or hotline (1799), never disclose personal and banking information and One-Time Passwords (OTPs) and monitor bank transaction alerts from the bank
- tell the authorities, family and friends if you encounter a scam. If you suspect you’ve been scammed, notify the bank immediately and make a police report.
Those with information relating to scams may call the police Hotline at 1800-255-0000, or submit a report online. All information will be kept strictly confidential.
Also read: Elderly woman loses S$1.2M to scammers who posed as bank & police officers
Elderly woman loses S$1.2M to scammers who posed as bank & police officers
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Featured image adapted from Singapore Police Force and Monetary Authority of Singapore.
