The Singapore Police Force (SPF) has issued an advisory warning members of the public about scammers opening payment accounts using modified soft copies of Singapore identity cards.
The alleged scammers would then use the accounts to conduct illicit activities.
Source: TheSmartLocal. For illustration purposes only.
According to the SPF, the process begins when scammers obtain a soft copy of a Singapore identity card.
They use digital tools to replace the original facial image on the copy with another.
The modified copy is then submitted online to payment service providers (PSPs) to set up payment service accounts.
As the PSPs begin their mandatory user verification, the scammers would instruct an accomplice who resembles the modified image to assume the identity of the person whose name is on the card.
Upon successfully opening such accounts, the scammers would proceed to use them for illicit activities, like receiving scam proceeds from victims.
SPF noted that some of the misused identity cards belonged to scam victims who previously provided soft copies of their identity cards to scammers.
The Monetary Authority of Singapore (MAS) has warned all financial institutions of the scheme, said SPF.
Source: MAS
Correspondingly, the affected PSPs have improved their security measures.
Financial institutions have also been reminded to review their customer onboarding processes and ensure they are sufficiently robust to prevent scammers from exploiting their services.
Forgery of a document is an offence punishable under Section 468 of the Penal Code 1871 with imprisonment of up to 10 years and a fine.
Also read: PDPC & Cyber Security Agency issue advisory against using NRIC numbers for authentication
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Featured image adapted from TheSmartLocal. For illustration purposes only.