$521k lost to lucky draw scams in 2024; victims duped into sharing credentials or paying to cash out 'prizes'

Source: Yahoo News

SINGAPORE -- Beyond e-commerce and fixed deposit scams, another type of scam has been claiming victims in Singapore since the start of the year. In the first three months of 2024, about 190 people have lost at least $521,000 to lucky draw scams, the Singapore Police Force said on Monday (15 April).

According to the police, this scam variant involves victims being duped into providing their banking credentials or making payments to claim prizes supposedly won from fake lucky draws, English Daily The Straits Times reported.

Scammers approach victims through advertisements or direct messages online before tricking them into making payments for a guaranteed prize or for more chances to win high-value prizes, like Apple's iPhone 15 and branded wallets

According to the police added that the scams occurred on various social media platforms, most commonly on Instagram, Facebook, WhatsApp, Telegram, and Amazon.

In some instances, scammers even video-call victims via WhatsApp, requesting they share their screens under the guise of payment verification. This allows the scammers to see victims logging into their bank accounts and banking credentials.

Victims only realise they have been scammed when they fail to receive the promised prizes.

According to The Straits Times, the police advise the public to be careful when sharing screens during WhatsApp calls and to take precautionary measures such as installing the ScamShield app and setting up security features for bank accounts.

Police also urged people to check for signs of scams with official sources, report any scams to the relevant social media platforms, and inform banks about unauthorised transactions.

In 2023, the number of reported scams in Singapore soared to a record high of 46,563 cases. This marks the highest number of cases since the police began tracking them in 2016.

The figure rose by 46.8 per cent compared to the 31,728 cases reported in 2022. Victims lost a total of $651.8 million in 2023.

For further information on scams, individuals can visit www.scamalert.sg or contact the anti-scam helpline at 1800-722-6688.