At least $172,000 lost in phishing scams targeting POSB customers since April
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Victims would receive an e-mail that appears to be from POSB, notifying them of the expiry of their mobile banking digital token.
PHOTOS: SINGAPORE POLICE FORCE
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SINGAPORE - At least $172,000 has been lost through phishing scams involving the impersonation of POSB since April. The police have received at least 13 reports of such cases.
In these scams, victims would receive an e-mail that appears to be from POSB, notifying them of the expiry of their mobile banking digital token and requiring them to activate or update the expired digital token by clicking on an embedded URL link. After clicking the link, victims would be directed to a phishing website where they are prompted to fill in their banking credentials, card details and one-time passwords.
Victims would realise that they had been scammed only when they discover unauthorised transactions, typically in foreign currencies, being made on their bank accounts or bank cards.
The police on May 6 urged the public to ignore urgent e-mails, SMSes or messages from non-SMS channels, such as Apple’s iMessage or Android’s rich communication services, claiming to be from banks and containing clickable links.
In addition, the public can set up transaction limits for internet banking transactions or use Money Lock, a feature on banking apps that allows customers to lock up their savings digitally in a designated account from which funds cannot be withdrawn.
The public is also urged not to click on links provided by unknown individuals.
Scam victims in Singapore lost $1.1 billion in 2024
To find out more on scams, the public can call the anti-scam helpline on 1799 or visit
