Rise in govt official impersonation scams in SG, says police and MAS

The Singapore Police Force (SPF) and Monetary Authority of Singapore (MAS) has warned the public to a recent rise in government official impersonation scams. In a joint statement, SPF and MAS said that there have been at least 1,100 cases reported, with total losses amounting to at least SG$120 million. 

This is almost double compared to at least 680 cases reported with total losses amounting to at least SG$67 million in the same period last year. 

The scams typically begin with victims receiving unsolicited calls from individuals posing as bank officers, reportedly from banks such as DBS, OCBC, UOB, or Standard Chartered Bank. Victims are erroneously informed about fraudulent credit card issuance or suspicious transactions on their accounts, prompting them to verify these claims, said SPF and MAS.

Don't miss: SG govt proposes anti-scam law to let police place restriction orders on bank accounts

The call is usually transferred to another scammer impersonating an SPF or MAS official. In some instances, these scams involve video calls where scammers appear as officials, complete with fake badges and agency logos as backdrops, before switching to messaging platforms such as WhatsApp.

Additionally, scammers may present counterfeit warrant cards and documents, accusing victims of activities such as money laundering, and instruct them to transfer money to supposed "safety accounts."

Generally, victims recognise the scam when they can no longer contact the scammers or after verifying details with their banks or the SPF.

Members of the public are also advised to adopt precautionary measures to safeguard against scams such as using the ScamShield app and website, as well as enabling two factor authentication (2FA) or multifactor authentication for online accounts. 

On top of that, they are also encouraged to report and block suspicious accounts or chat groups. If a scam is suspected, they are advised to contact the bank immediately to report and block fraudulent transactions, and file a police report.

Meanwhile, earlier in November, the Singapore government introduced a new Scams Bill where the nation might be the first to give the police powers to control the bank accounts of stubborn scam victims. The bill proposes to allow the police to issue restriction orders to banks which will restrict the banking transactions of an individual’s accounts. The intent is to protect the individual from losing his money to scammers.

According to MHA, the decision to issue a restriction orders will be made by a police officer, based on an assessment of the facts and circumstances of each case. The police may take into account relevant facts provided by the individual or his family members in making the decision.

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