With the rise of technology, it has connected the world in a way impossible before. But it is also a double-edged sword.
There are many problems stemming from the use of technology, which has led to a prominent rise in scams in Singapore.
The dominant culprits of the rise in scams are online and phone scams. The top 10 scams in Singapore involve e-commerce, loan scams, email impersonation scams, and internet love scams.
Today, we will discuss the Top 3 scams in Singapore and how to avoid them:
65% of the top 10 scams in Singapore comprise false e-commerce deals, fake loans, and Internet love fraud cases.
1. E-commerce Scams
Today, we can find great deals on online platforms. Items are retailing at a much cheaper price than brick-and-mortar stores. We may get tempted by these deals we see online, such as concert tickets and tech gadgets.
But, these online sellers may not be trustworthy. Guileless customers make the payment for the item before receiving the product. And, ultimately never receiving their products.
Recently, there is a new instance of e-commerce scam in which people land themselves with loans while trying to buy their mobile phones on online platforms.
These scammers trick people into giving personal information, such as their SingPassdetails, NRIC, and bank account details, by saying that they need this information to file for an installment plan package for buying the mobile phone.
Victims eventually find out that there is a sum of money deposited into their bank accounts. Later on, the scammers demand that the victims pay back the loan amount with interest.
How to prevent yourself from being a victim of an e-commerce scam?
- Do not give personal information such as bank account numbers and credit card numbers to unknown people and sources.
- Do not provide any information that is not required to make a purchase.
- Look into the reviews and background of the seller before purchasing
- Use e-commerce sites that allow you to release the payment only after you have received the products.
- Or else, insist on meeting up to collect and make the payment on the spot.
2. Fake Loan Scams
If you get a personal message or email offering you a loan with a low or no interest rate, it could possibly be a fake loan scam.
There are many scammers out there pretending to be “licensed” moneylenders, and they will ask for a processing fee. Or worse, during the process, they will ask you for your personal information and use it as a threat over you.
How to prevent yourself from being a victim of a fake loan scam?
- Ignore and block these messages immediately
- Only get your loans from licensed moneylenders that are registered under the Ministry of Law.
3. Internet Love Scams
With many dating apps and social media to meet new people, it also brings about more people misusing these platforms.
Not everyone you meet online is trustworthy and they may have malicious intent behind their sweet talkings. After gaining your trust and affection, online love scammers will come up with stories to get money from you.
And once they receive the money, you’ll never hear from them again.
How to prevent yourself from being a victim of an online love scam?
- You should keep your guards up when any stranger professes their love to you after being acquainted for a short while.
- Do not disclose any personal information to strangers online.
- Do not transfer money to anyone whom you haven’t met before.
With the advancement of technology, it is vital that we keep ourselves updated on these potential dangers on the Internet and stay alert to prevent ourselves from becoming victims of such scams. Share with your friends and loved ones, so they will be more aware of such scams!
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