How to spot four common scams in Singapore

Scams are on the rise. Nearly 470 OCBC Bank customers lost at least $8.5 million to SMS phishing scams last month, and other banks such as DBS and UOB recently warned of similar ruses.

Here are some of the most common scams going around.

In scams involving OCBC, fraudsters sent SMS messages claiming to be from the bank to trick its customers.

Some scammers use the same sender identification labels used by legitimate banks when sending fake SMS messages. For example, some SMS messages sent to OCBC customers seemed to have been sent by the bank and appeared in the same message thread as genuine messages.

The messages often claim there is a problem with the recipient's bank account, and include a link to a fake website that resembles the real one.

Victims who enter their log-in information and one-time password on the fake website can quickly have their savings stolen.

These scams involve crooks posing as authority figures such as the police, government officials or even job recruiters.

Using SMS messages, e-mails or phone calls, they trick victims into parting with money or giving up sensitive personal data.

A variant involves fake bank hotline numbers listed on Google search results. Victims who call will reach scammers pretending to be bank staff.

Tactics include claiming the recipient is in legal trouble, or offering simple yet well-paid part-time jobs and investment schemes with high interest rates. Those who respond are asked to pay fees or provide personal information.

The police, Supreme Court and Central Provident Fund Board recently warned the public of such scams.

Amid the pandemic, scammers also pretended to be calling from the Health Ministry to request information for contact tracing purposes.

They often mask the caller ID number to appear to be calling from a local number with the Singapore country code "+65".

Scammers may also pose as one's contacts. E-mail addresses can be spoofed to appear as if the message was sent by a friend requesting money.

The most common type involves fake listings of items in high demand such as gaming consoles or concert tickets at unusually low prices on e-commerce marketplaces or social media platforms.

Once payment has been made, the "seller" disappears or becomes unresponsive. Some scammers offer "pre-orders" of items that will take time to arrive, so victims may delay making a complaint or report.

Another related scam involves unsolicited SMS messages or e-mails claiming the recipient's parcel is stuck in transit and that a fee must be paid to ensure delivery.

Posing as attractive potential partners, scammers usually befriend vulnerable victims on dating and social media platforms. After gaining the victim's trust, they spin a tale about falling on hard times and ask for money.

They may also claim they need the money to visit the victims, or lure them into fake investment schemes or business ventures.