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Ms Cheryl Wang of the DBS Anti-Scam Team helped prevent an Internet love scam victim from losing more than $50,000.
That was one of four scam cases in February involving men over 60, where the Anti-Scam Centre worked with banks to intercept the funds and engage the victims, convincing them of the deceptive schemes they were entrenched in.
In another case, a 63-year-old man was also befriended by a woman on Facebook, who introduced him to a cryptocurrency investment scheme.
The man was enticed by the promise of quick profits to make several transfers totalling more than $250,000 to different bank accounts.
The transactions were detected by HSBC and escalated to the Anti-Scam Centre on Feb 15 February 2024, which promptly reached out to the victim, who was residing overseas and managed to dissuade him from making further transfers.
At the same time, Anti-Scam Centre reached out to the receiving banks and recovered more than S$90,000.
In the third case, a 71-year-old man was introduced to an investment opportunity by his "friend", who allegedly resided in Hong Kong.
The duo had maintained contact via various messaging platforms.
On Feb 3, on instructions of the "friend", the man transferred funds from his account to a local corporate account to invest in a F&B company, believing that the company was owned by the "friend" who promised to match the amount the victim had invested through a fake investment platform.
The man believed the investment was genuine as he could see the supposed account balance on the fake investment platform.
On Feb 7, under the "friend’s" instructions, the man attempted to transfer more than $50,000 from his Standard Chartered Bank account as payment to a fictitious supplier.
The bank's anti-fraud team detected the transfers, and the case was referred to the Anti-Scam Centre, where officers swiftly engaged the victim and successfully convinced the man about the scam.
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Elderly man befriended by woman on FB who asked for money!!!
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07-Mar 2024 Thursday
7:13 PM (53 days ago)
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