Ask NUS Economists

Telcos can do more to make phone scamming unprofitable

Telcos could also offer scam-call blocking service as a value-added enhancement to caller-ID or as a separate service. PHOTO: ST FILE
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A: Earlier this year, a China national in her 20s named Zhang studying in Singapore lost $300,000 to scammers impersonating Ministry of Health officials.

She was not the only victim as there has been an increase in the number of such phone scams. Between January and June, the police dealt with 323 China official impersonation scams which caused losses amounting to $49.5 million - this marked a 47 per cent rise in case numbers involving a sum almost five times higher than that recorded over the same period last year.

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