Scam victims in Singapore lost a staggering $651.8 million in 2023, with over 46,000 cases reported. Despite warnings from authorities and media about scams, the number of cases hit an all-time high last year.
The police disclosed to The Straits Times that there were 46,563 reported scam cases in 2023, marking the highest number since they began tracking them in 2016 and represents a significant increase of 46.8% from the 31,728 cases reported in 2022.
Source: Singapore Police Force
In total, victims lost $651.8 million to scams in 2023, slightly down from the $660.7 million lost in 2022. The top 10 scams alone accounted for $573.9 million lost in 2023, up from $509.2 million in 2022. Since 2019, over $2.3 billion has been lost to scams.
Source: Singapore Police Force
Malware scams, previously uncommon, emerged as a top concern in 2023, with 1,899 cases reported and losses totalling $34.1 million. Job scams were the most common, with 9,914 cases and losses amounting to at least $135.7 million. More than 45% of job scam victims were between 30 and 49 years old, with scammers frequently contacting them via WhatsApp and Telegram. In October 2023, The Straits Times reported a case where a single mother of two fell victim to a marketing job advertised on Facebook, losing approximately $89,000 to scammers within a week.
E-commerce scams doubled in 2023, with 9,783 cases and losses of $13.9 million. Victims, particularly those aged 30 to 49, fell for schemes like fake concert ticket sales and discounted online items. The most common platforms utilized by scammers were Facebook and Carousell.
One e-commerce scam revolved around concert tickets, gaining momentum in 2023 with the announcement of performances by popular artists like Ed Sheeran, Taylor Swift, and Coldplay in Singapore. In July 2023, The Straits Times (ST) reported an incident where at least 54 individuals lost over $45,000 in less than a week while attempting to purchase tickets for Swift’s The Eras Tour. The tour was scheduled to span six nights in March 2024.
Fake friend call scams surged in 2023, with 6,859 cases reported and losses exceeding millions. Most scam victims were below 50 years old, with young adults aged 20 to 29 falling for job scams, middle-aged 30 to 49 for e-commerce scams and the elderly aged 65 and above falling for fake friend call and investment scams.
The police said that most online scams are conducted by criminal groups outside Singapore, making investigation and prosecution challenging. However, they collaborated with international law enforcement to dismantle 19 scam syndicates in 2023, arresting over 110 individuals responsible for more than 730 cases.
To combat scams, the National Crime Prevention Council launched an anti-scam campaign urging people to ACT (Add security features, Check for signs of scams, and Tell the authorities and others about scams).
