16.3% increase in scam cases and financial losses in Singapore in H1 2024, reaching 26,587 cases and over S$385.6 million in losses.
Scam cases and financial losses in Singapore increased by 16.3% in the first half of 2024, reaching 26,587 reported cases and over S$385.6 million in losses. Investment and government officials impersonation scams are particularly concerning. If the trend continues, total losses may exceed S$770 million by the end of the year. The police and other agencies are working to address the issue, with better cooperation from companies like Meta and measures to verify risky sellers on social media platforms.
August 22, 2024
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