News

Fake friend scammers’ new ruse: Asking for favours instead of money

The Straits Times

Syndicates behind the fake friend scams are now employing new tactics to trick victims, such as requesting favours instead of asking for money up front.

These requests could be as innocuous as visiting a website to make a restaurant reservation, or downloading an app to help them purchase furniture, the police said.

Advisory 

'Grandparent' scams get more sophisticated

Federal Communications Commission (FCC)

Grandparents often have a hard time saying no to their grandchildren, which is something scam artists know all too well.

Scammers who gain access to consumers' personal information – by mining social media or purchasing data from cyber thieves – can create storylines to prey on the fears of grandparents.

Research

Increase in respondents’ perceived likelihood of falling victim to cyber incidents & online scams

Cyber Security Agency of Singapore (CSA)

The 2022 findings saw an increase in respondents’ perceived likelihood of falling victim to cyber incidents. Six in 10 respondents felt that the likelihood of their computers and/or devices being compromised was high, as compared to about four in 10 respondents in 2020.

Advisory 

We monitor the new ways criminals trick victims into giving out confidential information and funds

Interpol

Social engineering fraud is a broad term that refers to the scams used by criminals to exploit a person’s trust in order to obtain money directly or obtain confidential information to enable a subsequent crime. Social media is the preferred channel but it is not unusual for contact to be made by telephone or in person.

News

More than S$330 million lost to scammers in first half of 2023; cases continue to rise

Channel News Asia

Fraudsters siphoned S$334.5 million from their victims from January to June this year, with young adults the most likely to be cheated in scams.

Advisory 

What is an impersonation scam?

Scam Alert, National Crime Prevention Council (NCPC)

This scam usually involves a phone call or in-app call (e.g WhatsApp) from someone claiming to be a local government official (e.g. government official, police officer or court official), staff from a bank or telco, or a representative of a bank or courier company.

Publications

Challenges in driving Digital Self-Determination (DSD) in open finance

Centre for AI & Data Governance

DSD is a self-regulatory strategy that depends on the engagement of stakeholders in open communication and negotiation over data. 

If the engagement is either not positive or respectful, then the digital space is not safe.

Research

Americans and Privacy: Concerned, confused and feeling lack of control over their personal information

Pew Research Center

Majorities think their personal data is less secure now, that data collection poses more risks than benefits, and believe it is not possible to go through daily life without being tracked