International

Thousands Lose $16 Million In Singapore ‘Fake Friend’ Scams

Published

10 months ago

Jan 24, 2024.

EKO HOT BLOG reports Over 6,300 individuals in Singapore became victims of “fake friend” scams in the past year, resulting in a collective loss of nearly $16 million (approximately ₦6.76 billion), as reported by the police.

EDITOR’S PICKS

These scams typically involve perpetrators posing as someone known to the victims, requesting financial assistance.

Singapore, despite being a wealthy city-state, has experienced a surge in scams, prompting frequent warnings from authorities about emerging criminal schemes.

Police revealed on Tuesday that these scams led to losses amounting to Sg$21.1 million (approximately ₦8.8 billion) between January and November of the previous year.

In the most recent case, five Malaysians were extradited to Singapore on Tuesday in connection with “fake friend” scam calls that led to losses exceeding $1 million (approximately ₦419 million), according to a police statement.

The arrests followed a joint operation between Malaysian and Singaporean police, who raided two apartments in Malaysia’s Johor state earlier this month.

The five suspects, aged between 19 and 36, were apprehended for their suspected involvement in scams targeting Singaporeans and will face charges of conspiracy to cheat on Wednesday after their extradition.

Police authorities believe this syndicate is responsible for over 500 police reports and losses exceeding Sg$1.4 million (approximately ₦586 million) since June of the previous year.