SINGAPORE – Victims lost at least $162,000 to phishing scams involving social media advertisements since Sept 1, with at least 173 cases reported.
The police said on Sept 30 that these victims would encounter advertisements or sponsored posts promoting heavily discounted items on social media platforms such as Instagram, Facebook and TikTok.
Items include personal accessories, electronics, food items and cleaning supplies.
Upon clicking on the link embedded in these posts, the victims would be directed to a phishing site which would ask for their card details and one-time passwords for payment of the product or delivery.
Victims would realise that they had been scammed only when they discover unauthorised transactions charged to their cards or when the items are not delivered.
The police urged the public to take measures such as setting up transaction limits for internet banking transactions and enabling multi-factor authentication for banks and e-wallets.
One should also check with the merchant listed in the advertisement or post to ensure that the post is reputable and legitimate. Any suspicious advertisements should also be reported to respective social media platforms.
Those who have information relating to such crimes can contact the police at 1800-255-0000 or submit it online.
There were a record 46,563 scam cases reported in 2023, a 46.8 per cent jump from the 31,728 cases in 2022, the police said in February.
In total, scam victims in Singapore lost $651.8 million in 2023, a slight dip from the $660.7 million lost to scammers in 2022.