SINGAPORE – In a recent crackdown on SMS banking-related phishing scams, authorities have apprehended four individuals, including two teenagers, suspected of orchestrating a series of fraudulent activities.
The arrests were made in an islandwide operation conducted between 22 and 24 January by officers from the Commercial Affairs Department (CAD).
According to the police, the suspects, comprising two men aged 23 and 52, along with two male teenagers aged 16 and 17, are believed to have played pivotal roles in facilitating phishing scams by relinquishing their bank accounts, Internet banking credentials, or disclosing Singpass credentials for illicit gains.
Preliminary investigations reveal a modus operandi where scammers impersonate DBS Bank or its employees via spoofed SMS messages, targeting unsuspecting victims to divulge sensitive banking information.
Victims, receiving unsolicited SMSes from both local and overseas numbers or shortcodes, are warned of unauthorized attempts to access their accounts and instructed to click on URL links provided in the messages for identity verification and transaction prevention.
Upon clicking the links, victims are redirected to counterfeit DBS Bank websites, where they unwittingly disclose their Internet banking credentials and one-time passwords (OTPs), enabling scammers to execute unauthorized withdrawals.
Among the arrested individuals, the 23-year-old man faces charges of abetting unknown persons to gain unauthorized access to the bank’s computer system, along with the disclosure of Singpass credentials.
First-time offenders can face fines of up to $5,000, imprisonment for up to two years, or both. Notably, the penalties for such offences can escalate for subsequent violations, with fines of up to $10,000, imprisonment for up to three years, or both.
Law enforcement authorities have issued a stern warning to the public, urging them to exercise caution and scepticism regarding lucrative money-making opportunities that entail the use of Singpass accounts or bank credentials. They emphasize the importance of accountability and caution against any involvement in criminal activities.
To combat the rising tide of financial fraud, the police advocate for proactive measures, including the adoption of security features such as two-factor authentication and transaction limits for Internet banking transactions.
Additionally, they advise individuals to verify the authenticity of claims with official bank sources and refrain from sharing sensitive information over unsolicited communication channels.
The public is encouraged to report fraudulent activities promptly and utilize resources such as the ScamShield application for mobile devices to mitigate the risks of falling victim to scams.
Information on scams can be accessed through www.scamalert.sg or by contacting the Anti-Scam Helpline at 1800-722-6688.
Individuals with pertinent information about fraudulent activities are urged to reach out to the police hotline at 1800-255-0000 or visit www.police.gov.sg/iwitness.
Tan See Leng: Co-investing CPF in GIC risks interest rate fluctuations
Netizens support gov’t decision to bring Taylor Swift to S’pore in exclusive concert deal
Former Transport Minister S. Iswaran granted extension on overseas trip amid corruption charges
Singapore to increase retirement age to 64 and re-employment age to 69 by 2026
CCE lesson on Gaza conflict to be customized for varied age groups, says Chan Chun Sing
Taylor Swift’s grandmother revealed to have S’porean connections
Singapore increases minimum salary for Employment Pass to S$5,600 and S$6,200 for financial sector
Pritam Singh clashes with SPS Chua on insinuations over NCMP Leong’s POFMA-ed post
Edwin Tong: Govt “moved fast and early” to secure Taylor Swift show in Singapore, declines to reveal amount spent
Spanish vloggers robbed, sexually assaulted by seven men in India sparks outrage
Temasek-backed Eat Just pauses cultivated meat production in Singapore amid challenges
Singapore’s mainstream media remains mum on Li Shengwu securing tenure at Harvard
Singapore1 week ago
Gilbert Goh challenges MOE on Israel-Hamas classroom narrative
Politics1 week ago
Leong Mun Wai steps down as PSP Secretary-General over POFMA directive received
Opinion3 days ago
Why isn’t Minister Edwin Tong issuing POFMA Correction Direction against the Thai PM or Bangkok Post?
Singapore1 week ago
MOE responds to critiques on Israel-Hamas conflict education
Singapore3 days ago
Minister Edwin Tong refutes high spending claims on Taylor Swift’s Singapore concerts
Politics2 weeks ago
SDP Chief Chee Soon Juan receives POFMA order for comments on HDB policies
Comments2 weeks ago
Netizens amused by ‘washrooms basic cleaning’ course on SkillsFuture
Comments3 days ago
Netizens flood LHY’s Facebook with congrats as Li Shengwu secures tenure at Harvard