Scam victims in Singapore lost a total of $660.7 million (RM2.239 billion) in 2022, up from US$632 million (RM2.111 billion) in 2021, figures released earlier in 2023 by the police showed.
Scam syndicates frequently resort to recruiting individuals as "money mules" to facilitate the movement of funds within Singapore and beyond, often utilizing bank and Singpass accounts for this purpose.
In the first three months of 2022, around 93 victims lost at least S$56.2 million (RM181 million) to business e-mail compromise (BEC) scams, said the police on Friday (July 29).