More than 6, 300 survivors were victims of the “fake buddies” scams between January and November of last year, according to police statistics. The losses amounted to over S$ 21 million.
According to Mr. Supramaniam, the offenders ‘ abuse is really never at the top of their minds for the majority of patients.
They do n’t want these people to face charges and spend time in jail, they say. The constitutional consequences, they are extra. They just want to reclaim the funds as it’s their benefits”.
Exercise CAUTION
Personal details could still be found even if users hid their PayNow names, according to NUS Associate Professor Pang, given how digitalized world is today. For instance, individuals frequently use their real labels on messaging apps like WhatsApp and Telegram.
” Be extremely cautious about the types of personal information you put out about yourselves, such as your brands, phone numbers and names”, said Assoc Prof Pang, who is with the school’s contacts and new advertising section.
” One should also regularly check the privacy settings of software like social media and chat apps, to limit the presence of one’s account and who can view your information and account.”
Users should be cautious when someone claiming to be a friend or acquaintance calls for favors or money, according to NTU’s Associate Professor of Business, who has personally received a false friend scam call.
Users may artistically verify the identity of the person because voice cloning is now so advanced that it is possible to replicate someone’s voice with only a few minutes of audio recording.
Scammers can also copy a friend’s appearance using algorithmic technology, but he claimed that the required amount of computing power makes scaling quite operations more challenging.
While customers may remain vigilant, the , responsibility to protect clients lies largely with the bankers,  , Assoc Prof Law said.
Under existing Personal Data Protection Act regulations, organisations are required to employ security measures to protect private data from illegal entry, collection, use, publication or related risks, he explained.
To protect their customers ‘ data and prevent it from being abused by scammers, banks should ensure that their methods and practices agree with these rules, he said.
With the rise in con cases reported in Singapore, the UOB director stated that protecting customers is top of its list and that it has “progressively introduced different security settings and measures.”
In this ever-evolving threat landscape, the spokesperson said,” Our customers remain the single most effective defense,” and we urge them to be vigilant and cautious.