8-9-2024 (SINGAPORE) A new wave of SMS phishing scams impersonating Singtel, one of Singapore’s largest telecommunications companies, has cost victims at least $100,000 in less than a week, according to local authorities. The Singapore Police Force revealed on 7 September that they had received no fewer than 14 reports of this sophisticated fraud since 2 September.
The scam operates by sending unsuspecting victims text messages claiming their Singtel points are about to expire. Recipients are then directed to a meticulously crafted phishing website that closely mimics the genuine Singtel redemption page. Once on this fraudulent site, victims are prompted to select gifts and enter their credit or debit card details, including one-time passwords (OTPs).
Many victims only realised they had fallen prey to the scam after receiving notifications from their banks about unauthorised transactions. This delay in detection has allowed the fraudsters to make off with significant sums before victims could take action.
In response to this alarming trend, the police have issued a set of guidelines to help the public protect themselves from such scams. These measures include blocking international calls and SMSes, using only official banking applications from recognised app stores, and implementing robust security features such as two-factor authentication for banking apps, social media, and Singpass accounts.
The authorities also strongly recommend setting transaction limits on internet banking transactions, including popular payment platforms like PayNow and PayLah. Furthermore, the public is urged to scrutinise the authenticity of unsolicited clickable links and to be wary of webpage addresses that may contain subtle discrepancies.
“Never reveal personal information, internet banking details, or social media account credentials to anyone,” a police spokesperson emphasised. “Be especially cautious of deals that seem too good to be true, and always verify information directly with the company if in doubt.”
This latest scam comes amid a worrying trend in Singapore, which saw a record high of over 46,000 reported scam cases in 2023, resulting in total losses of approximately $651.8 million. Phishing scams, like the one impersonating Singtel, were among the top 10 scam types in the city-state last year, with 5,938 cases reported.
