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Spike in malware scam victims in July, August; losses equivalent to that in first half of 2023

Scammers have defrauded more than 1,400 victims in Singapore, using malware to hijack mobile devices and carry out unauthorised transactions, with losses totaling at least $20.6m from January to August. The victims are tricked into downloading malicious apps which allow the thieves to obtain banking details. Major local banks have reacted by introducing anti-malware measures and allowing customers to safeguard some savings from digital transactions. Police are advising the public to switch their phones to flight mode and delete suspicious apps or perform a factory reset if they suspect their device is compromised.

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