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Insurance being considered for CPF savings lost to scams; 9 recent cases involving $124k in losses

Singapore News - Insurance to assist in the recovery of CPF money lost to scams is being considered under a framework that involves financial institutions, telcos and other entities. On Tuesday, following questions from several MPs on scam cases involving CPF savings that saw losses. Read more at www.tnp.sg

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CPF login may require Singpass face verification to protect vulnerable members from malware scams

Singapore News - Some Central Provident Fund (CPF) members may be required to use Singpass face verification when logging into their accounts. This comes as the authorities said victims lost about $8 million in more than 700 malware-related scams that were reported between January and. Read more at www.tnp.sg

About $8m lost in over 700 malware-related scams in first half of 2023

At least 8 of these scams involved CPF savings, with losses amounting to $124,000. Read more at straitstimes.com.