Are You Sure You’re Not Being Scammed? Part 2

Over S$633 million has been lost to scams in 2021 as scammers took advantage of the public’s heightened sense of vulnerability and uncertainty during the Covid-19 pandemic. The Singapore Police Force’s Anti-Scam division reports that job scams were the most common ruse last year, with 4,554 cases.

Do you suspect that your bank account or credit card details have been compromised? Have you transferred money to an organisation that promises you a job in return, or to someone you met online who claims to be in urgent need of money (The Tinder Swindler, anyone)?

Today, scams appear in various forms as these bad actors from all over the world grow more sophisticated, act in a syndicate and prey on victims easily from behind a screen.

In the second part of our Cybersecurity Awareness anti scam series, we look at 5 simple yet important steps to take when you fall victim to a scam so as to minimise further damage.

If the scammer contacts you
If the scammer calls you or sends you a message, ignore these scam calls and block the number, but keep a record of what has happened so that you can report it. If the message contains a suspicious link, DO NOT click on it.
If you have transferred money to the scammer within the last 24 hours
If the scammer asked you for money and you have mistakenly transferred the money to them, contact your bank about the transaction. Then, send a complaint to the respective organisation that the scammer impersonates.
If you think your bank account or credit card details have been stolen or compromised
Contact your bank and card issuing company to block the affected account or credit card.
If you think your password has been stolen or your account has been hacked
Change the password and lock your account immediately.
If you know the contact medium of the scammer
Leave the social media group (like WhatsApp, Telegram or Facebook groups, or Instagram chats) immediately. Report or file complaints against these scam groups immediately to the organisation in question.

Last week we shared in detail about the various types and signs of scams going around. If you haven’t read it, head over to find out how to identify scams and prevent yourself from falling victim to one.

Read more on our website here to find out how to secure your Funding Societies account and make sure you’re not being scammed.

Disclaimer: The information provided to you in this blog post is intended only for general information purposes only and does not constitute legal or other professional advice on any subject matter. The materials and the information provided are not intended to be and do not constitute an advertisement or solicitation. In no event will Funding Societies be liable to any party for any direct, indirect, incidental, special, consequential or punitive damages for use of such information by you or any unauthorised third party.