Scam victims in Singapore lost $385.6m in first half of 2024 as cases hit high of 26,587
Singapore is lowering the maximum limit on daily CPF withdrawals from $200,000 to $50,000, starting next month. It's also considering giving police the power to restrict a scam victim's banking transactions -- but only if there is enough evidence to suggest the person has fallen prey to a scam. Scam cases are up by 16.3% in the first half of the year, compared to the same period in 2023. 26,587 cases were logged, resulting in $385.6 million lost. 86% of all reported cases were self-effected. Alif Amsyar reports.Â
Singapore is lowering the maximum limit on daily CPF withdrawals from $200,000 to $50,000, starting next month. It's also considering giving police the power to restrict a scam victim's banking transactions -- but only if there is enough evidence to suggest the person has fallen prey to a scam. Scam cases are up by 16.3% in the first half of the year, compared to the same period in 2023. 26,587 cases were logged, resulting in $385.6 million lost. 86% of all reported cases were self-effected. Alif Amsyar reports.Â
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