At least 46 victims duped of $3 million in scam involving fake MAS officers and WhatsApp screen sharing

Scammers posing as Monetary Authority of Singapore (MAS) officers have stolen at least $3 million from 46 or more victims since June, by exploiting WhatsApp's screen sharing function to spy on their banking details.

In this type of scam, victims would receive calls on local numbers, with the callers claiming to be from firms such as NTUC Income, NTUC Union or Unionpay, the police said on June 26.

The scammers would claim there were issues with the insurance plans that the victims had purchased.

When victims denied purchasing such policies, the scammers would then redirect them to an accomplice, posing as an officer from MAS.

The second scammer would then claim that the victims' bank accounts were implicated in money laundering, before instructing them to transfer their money to a separate account used by the scammers for "safekeeping".

These fraudsters would guide the victims through the process of making internet banking transfers by using WhatsApp's screen sharing function, which would expose the victims' bank accounts and internet banking details.

The ruse would only be discovered when the scammers became uncontactable, or when they asked victims to transfer more money, the police added.

Stressing that individuals should never share their devices' screen with strangers or anyone whose identity has not been verified, the police said that doing so could result in unauthorised transactions and financial loss.

They added that government officials will never ask individuals to transfer money, disclose banking log-in details, install apps from unofficial sources, or transfer calls to the police through the phone.

As a precaution, the police reiterated advice to download the ScamShield app to block calls and filter SMSes, as well as to alert banks immediately if any suspicious activity has occurred, among other steps.

Scams remain a rampant problem in Singapore, with victims suffering losses that soared to $1.1 billion in 2024, which is about 70 per cent higher than the amount lost in 2023.

Since 2019, victims here have lost more than $3.4 billion to scams, with the highest number of scam reports made in 2024, numbering at 51,501.