This week’s OSIN showcases the report of Singapore Police Force Annual Scams and Cybercrime Report, 2022

According to the Singapore Police Force Annual Scams and Cybercrime Report, 2022, scam victims in Singapore suffered significant financial losses in 2022, with a total of SGD 660.7 million being lost to scams. This alarming figure brings the cumulative losses over the past two years to almost SGD 1.3 billion. In 2022 more than 53 percent of scam victims were between 20 and 39 years old. Phishing scams were the most common rise in 2022 with 7,097 cases, a 41.3% spike from the 5,023 cases in 2021. However, the total amount lost by phishing scam victims decreased by 52.6%, from SGD 34.8 million in 2021 to SGD 16.5 million in 2022. The report highlights the persistent issue of scams in the country and the devastating impact they have on individuals and the economy. Authorities have been working carefully to combat scams, including conducting public awareness campaigns and strengthening enforcement measures. However, scammers continue to adapt and find new ways to deceive people, emphasizing the importance of ongoing efforts to educate the public about the dangers of scams and how to protect themselves from falling victim to fraudulent schemes.