MAS warns of scam calls using its name after spike in reports

Nearly 100 people called the Monetary Authority of Singapore (MAS) on Thursday to report phone scams that used its name, a surge of at least 10 times more than the usual number, prompting the central bank to issue a warning on the same day.

In the past week, MAS received just five to 10 reports daily on such calls, which came to its attention late last month.

Thursday's alert came after MAS warned on Feb 25 of these scams, in which scammers impersonated its staff through phone calls or calls made via mobile applications such as Viber and WhatsApp.

The authority said that its officers would never ask members of the public for their personal banking information or log-in credentials.

It also advised the public not to give out their personal information, such as Internet banking or credit card details, bank account numbers, personal identification numbers and one-time passwords.

Those who receive such suspicious calls should report the matter to MAS at webmaster@ mas.gov.sg or call the police on 1800-255-0000.

In late February, The Straits Times reported that the number of banking scam calls and messages in January was 21/2 times more than that reported in the last three months of 2019 combined.

Figures obtained from the police showed that there were 105 cases in January, and only 38 in October, November and December last year.

DBS, the largest bank here, also issued a statement last month following concerns that scammers were impersonating its employees.