Last year, as detailed in the police statistics released on February 20th, a staggering 70 per cent of the reported e-commerce scams in Singapore unfolded on the online marketplace Carousell. This revelation highlighted the platform’s prominent role in the realm of online fraud.
E-commerce scams have emerged as the leading type of fraud in Singapore, with more than 2,000 incidents recorded in 2018 alone, according to the police’s annual media briefing. The timing of this data release is particularly noteworthy, occurring just two days after Carousell shared encouraging news about its performance: the company reported a significant reduction in its fraud rate, which plummeted by 44 per cent over the past year. By the end of last year, Carousell’s fraud rate stood at a mere 0.031 per cent, translating to just three fraudulent transactions for every 10,000 conducted on its platform.
The police identified that the most prevalent scams on Carousell typically involved electronic goods and tickets for various events and attractions. E-commerce scams, characterized by buyers not receiving their purchased items, saw a notable rise of 11.4 per cent from 2017, climbing from 1,907 cases to 2,125 in the previous year. The financial toll of these scams also escalated, with the total amount defrauded rising from $1.4 million to $1.9 million.
In addition to e-commerce fraud, other types of scams have also been on the upswing. Notably, loan scams have more than doubled, soaring from 396 cases in 2017 to 994 cases last year. These scams often involve unsolicited SMS or WhatsApp messages that promise loans from supposed licensed moneylenders. Interested individuals are lured into transferring money as a deposit, only to find themselves unable to contact the scammer afterwards.
Furthermore, credit-for-sex schemes have seen a 28.7 per cent increase, reaching 533 reported cases, while impersonation scams involving officials from China surged by an alarming 60.6 per cent, totalling 302 incidents.
On a slightly brighter note, internet love scams experienced a decline; the number of such cases fell by 20 per cent from 826 to 660. Correspondingly, the financial losses associated with these scams dropped significantly, from $37 million to $27.5 million.
As these statistics illustrate, while some forms of fraud continue to escalate alarmingly, there are signs of progress in combating others. The ongoing battle against online scams remains a critical issue for both law enforcement and digital platforms like Carousell as they strive to create safer environments for users engaging in e-commerce activities.
The police have credited the decrease in specific crime rates to the proactive measures taken by the Transnational Commercial Crime Task Force (TCTF), an initiative launched in October 2017 under the auspices of the Commercial Affairs Department. Since its inception, this specialized unit has successfully shut down over 600 bank accounts linked to fraudulent activities and recovered more than $1.4 million. In their ongoing battle against scams, the TCTF has collaborated with international law enforcement agencies, enhancing their capacity to tackle these insidious crimes.
However, despite these efforts, the overall crime statistics revealed a slight uptick of 1.4 per cent, with reported incidents rising from 32,668 in 2017 to 33,134 last year. This increase is primarily attributed to a surge in scam-related offences. The widespread use of the internet and smartphones in Singapore has played a significant role in facilitating online criminal activities, many of which are orchestrated by foreign syndicates that exploit technological vulnerabilities.
Another pressing issue highlighted by the police is the alarming rise in computer misuse offences. These include unauthorized access to individuals’ online accounts, fraudulent purchases made with stolen credit card information, and phishing schemes designed to extract personal data. Offences categorized under the Computer Misuse Act have soared by 40.3 per cent, reaching a total of 1,204 reported cases.
The police emphasize that community engagement is vital in the ongoing fight against crime. They encourage residents to contribute by providing tips through various channels, such as the i-Witness feature on the Police@SG mobile application or the police website or by calling the anti-scam helpline for assistance.
“By fostering strong partnerships with the community and other stakeholders, we can ensure that Singapore remains one of the safest nations globally,” stated the police.
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