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flag Singapore reports record S$1.1 billion lost to scams in 2024, with e-commerce and phishing leading.

flag In 2024, Singapore saw a record S$1.1 billion lost to scams, a 70.6% increase from the previous year. flag Scam cases rose 10.6% to 51,501, with e-commerce scams leading in number and phishing scams causing significant financial loss. flag Cryptocurrency scams accounted for 24.3% of total losses, up from 6.8% in 2023. flag The Singapore Police Force's Anti-Scam Command recovered over S$182 million, reducing net losses to S$930 million. flag The Protection from Scams Bill, passed in January 2025, now allows police to freeze bank accounts to prevent further losses.

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