Singapore police, banks prevent losses of more than S$53mil to scams in September and October


Bank customers were alerted after suspicious transactions were identified using Robotic Process Automation. - Photo: ST

SINGAPORE: A collaboration between the police and five banks thwarted over 1,338 scams in progress between Sept 1 and Oct 31, preventing potential victims from losing more than S$53 million in all.

The police on Friday (Nov 8) said its Anti-Scam Centre (ASC) worked with DBS Bank, HSBC Bank, OCBC Bank, Standard Chartered Bank and UOB Bank to foil the job, investment, e-commerce and fake friend call scams.

Potential scam victims were identified using Robotic Process Automation (RPA) technology, which uses artificial intelligence to analyse data to identify patterns, anomalies and trends that may indicate fraud.

ASC and the five banks sent over 9,000 text messages to more than 6,700 bank customers, alerting them to the suspicious transactions which the scammers had asked them to make.

The text messages also advised them not to make more transactions.

RPA streamlined the processing and sharing of information, the police said, which allowed them to quickly reach out to the potential victims.

Most of those who had fallen prey to scams then lodged police reports.

The police has advised members of the public to practise ACT measures – add security features, check for signs, and tell the authorities and others about scams – in order to protect themselves from scams.

The 46,563 scam cases reported here in 2023 marked the highest number of scam cases recorded since the police started tracking them in 2016. Victims in Singapore lost $651.8 million that year. - The Straits Times/ANN

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Singapore , police , banks , prevent , losses , S$53mil , scams , September , October

   

Next In Aseanplus News

India flexes military muscle with ‘Poorvi Prahar’ tri-services exercise along China border
Chinese Hip-Hop star MaSiWei set to thrill local fans at Zepp KL on Dec 18
Brunei Sultan to hold state visit, attend meeting in Peru
Explosion at gas station in southern Myanmar leaves one dead
US-based Malaysian comedian Ronny Chieng calls Americans to ‘go back to Malaysia’
Vietnam may find it harder to profit from new US-China trade war
Japanese comedian drops libel suit over sexual assault article
Family claims bodies of father, daughter killed in stabbing incident
Indonesia's Mt. Semeru eruptions trigger local advisories
India's Modi rejects calls to restore Kashmir's partial autonomy

Others Also Read