SINGAPORE - A month-long joint operation by the Singapore Police Force (SPF) and DBS Bank prevented more than 3,900 victims from losing over $21 million through scams, said the police on Thursday.

The operation, from June 12 to July 11, was led by SPF’s Anti-Scam Centre (ASC) and DBS, and used technology to identify job, investment and other scam victims, alerting them so as to prevent further financial losses.

For example, through automating processes, the bank and ASC officers significantly reduced the time taken to identify scam victims, with little human intervention.

Over 4,600 SMS alerts were sent to more than 3,900 victims during the operation, disrupting more than 1,400 active scam cases.

The police and DBS also used technology to automate information sharing, information processing and the mass distribution of SMS alerts within a short time, improving outreach.

The victims were unaware they had fallen prey to the scams until they received the alerts from the police.

For job scams, victims would receive job offers through unsolicited WhatsApp or Telegram messages, urging them to participate in simple surveys or perform tasks such as “boosting ratings” of product listings for reputable merchants – in return for rewards.

Victims would then be asked to complete tasks such as answering survey questions. They were subsequently directed to create accounts on fraudulent websites to earn additional commission.

Once victims received their initial payment and commission, they would be directed to complete further “product-boosting tasks” by making payments to bank accounts provided by the scammers.

In scams related to investment, victims are often approached on social media platforms, where they are introduced to investment opportunities.

Scammers frequently pose as financial advisers, brokers or investment experts, enticing victims with the promise of lucrative profits.

Victims are then instructed to transfer money to specific bank accounts. Initially, victims may receive small profits, leading them to believe the scheme is legitimate. The amount is slowly increased, and victims may find themselves transferring larger sums of money to bank accounts controlled by scammers.

It is only when victims are asked to pay excessive withdrawal fees to encash their profits from fake investment platforms that they realise they have been deceived.

The police reminded people to set up security features such as the ScamShield phone app, which filters messages and phone calls from numbers used in illegal activities, and two-factor authentication for personal accounts.

Bank account holders should set transaction limits for Internet banking, which can limit the amount of money that scammers can steal.

To check for potential signs of a scam, one should ask questions, fact-check requests for personal information and money transfers, and verify the legitimacy of online listings and reviews. If an offer is too good to be true, it is probably a scam, the police said.

Scam encounters should be reported to the affected bank, ScamShield or the police. Others should be warned about ongoing scams and told how to avoid falling for them.

For more information on scams, visit www.scamalert.sg or call the anti-scam hotline on 1800-722-6688.