Beware of scams involving fixed deposit ‘promotions’; at least S$650,000 lost since January

Scammers may claim that the records had been created” for them” or that the transactions were intended to “hold the cash prior to the creation of their account” to deter patients from seeking further confirmation.

Individuals may discover that they had been defrauded after opening their bank accounts and checking the system records for themselves. &nbsp,

” In some instances, the cheater may offer an’ detection time ‘ which delays the finding of the scheme”, said the police. &nbsp,

When victims later made a final check with the banks, they would eventually learn that the accounts were the property of someone else.

PHISHING SCAMS

Last year, DBS issued an alert notice alerting customers about spoofing SMSes containing fake promotions. &nbsp,

” These SMSes are scams, and the person on the other end is not a DBS representative”, said the lender. &nbsp,

Scammers may try to trick consumers into depositing money into their bank accounts, the warning warned. &nbsp,

According to DBS, scammers may also ask customers for their online key approval codes and login information in order to steal money or access bank accounts without their consent. &nbsp,

The bank urged its customers to ensure that they use DBS’s standard website or official mobile applications to submit any bank-related inquiries. &nbsp,

In December, 103 victims of phishing scams that involved the impersonating banks through flagged SMSes fell victim to at least &nbsp. Another&nbsp, 219 DBS consumers fell for such schemes in the first two months of 2024, losing about S$ 446, 000 in full.

More details on schemes can be found website or by calling the Anti-Scam Helpline at 1800- 722- 6688. &nbsp,

Call the police line at 1800 255 0000 or send the information online if you have any information about these crimes.