S$661 million lost to scams in 2022, with young adults most likely to fall victim: SPF

PROFILE OF SCAM VICTIMS

SPF’s data included more details on the profile of scam victims. About a quarter of young adults from the ages of 20 to 29 and 30 to 39 fell victim to job scams, in which they are typically promised high salaries for remote work.

“Victims would be asked to perform simple tasks like making advance purchases, liking social media posts, or reviewing hotels/restaurants,” said SPF.

In most cases, these offers came through unsolicited messages from unknown numbers on chat applications.

Victims would initially receive some commission to lure them into providing more funds, purportedly so that they could get more commission over time. However, they would eventually not be able to get their money back.

Young adults accounted for 66.8 per cent of the victims of job scams. Phishing scams and e-commerce scams rounded out the top three scam types for this age group.

Experts have pointed out that digital natives depend on Internet platforms and mobile apps to shop, bank and communicate, and that being online more increases exposure to the risk of scams and cyber fraud.