Tuesday, 13 February 2018

S$99 million lost to scams in 2017: Police

It is not just Internet love scams that are on the rise, but various forms of fraud as well, with at least S$99 million lost to scammers last year, said the Singapore Police Force.

Email impersonation scams raked in the highest amount, with victims losing at least S$43 million - the most in the last three years and a 70 per cent spike from 2016. The largest amount swindled in a single case last year was S$5.7 million.

There were 328 cases of email impersonation in 2017, an almost 30 per cent jump from 257 cases in 2016.

Most of the victims were businesses who were deceived into transferring money to fraud bank accounts of their business partners.

Read more @ https://www.channelnewsasia.com/news/singapore/s-99-million-lost-to-scams-in-2017-police-9945700

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