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 impersonating banks and government officials, SPF and MAS said.
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.
They resulted in losses of at least S$67 million in total.
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.
The victim would either be told that a credit card had been issued under their name, or suspicious or fraudulent transactions had been detected in their bank account.
The victim would then be asked to confirm these transactions, and they would obviously deny knowledge of them.
Another scammer will impersonate govt official
Next, the victim would be transferred to a second scammer who would impersonate a government official, typically from SPF or MAS.
Sometimes, the scammer would even make a video call with the scammer dressing up as the said official.
They would be wearing fake badges with the agency’s logo behind them.
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 would normally tell the victim that they’re under investigation for criminal activities such as money laundering. The victim would then be instructed to transfer monies to bank accounts to assist in investigations.
The victims would find out they were scammed after the scammers become uncontactable or when they finally check with the bank or SPF.
Public alerted to rise in impersonation scams in 2024
SPF and MAS would thus like to alert members of the public to a rise in impersonation scams.
They should note that banks will not transfer calls to any party outside the bank, such as the police or Government officials, MAS said.
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.
