Singapore turns tide in fight against scams

2022 has seen a 28 percent decrease in scam cases in Singapore, with losses also falling. The drop suggests that the government's anti-scam strategies and public education measures have been effective in making it more challenging for scammers to succeed. Former Prime Minister Lee Hsien Loong has even admitted to being scammed into making an order on a fake e-commerce website. The Singaporean government has led a scam education drive, including roadshows and talks with residents, and has toughened punishments for convicted scammers. A 24-hour helpline receives up to 700 calls daily, and banks or police can now freeze accounts if they determine that a person is giving money to scammers. The city-state's 2023 Online Criminal Harms Act has strengthened the police's hand in ordering social media platforms to remove scam-related content or face penalties. Telegram, which had previously not responded to requests to disrupt criminal activity, has now acted on all directions issued to them. However, criminals are finding new ways to exploit digital vulnerabilities, such as using artificial intelligence (AI) to convincingly impersonate an individual. Impersonation scams soared 1,400 percent year-on-year globally, and AI-enabled fraud is 4.5 times more profitable than its lower-tech equivalents. Scammers usually reach targets in Singapore on social media, with Meta being ordered to step up safeguards on Facebook after scammers used images of top officials in impersonation schemes.

Edward Lance Arellano Lorilla

CEO / Co-Founder

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