Nearly S$1 billion lost by scam victims in Singapore since 2016

Image from The Straits Times/ANN.

SINGAPORE, Jan 29 (The Straits Times/ANN): The recent phishing saga involving customers of OCBC Bank has highlighted the epidemic of scams in Singapore, where victims have lost more than $965 million in just over 5½ years, checks by The Straits Times showed.

Scammers pocketed a record high $268.4 million in total in 2020, a figure Home Affairs and Law Minister K. Shanmugam revealed last year in a written response to a parliamentary question on scams.