SINGAPORE: Beware! A whopping S$9.6 million (approximately US$7.2 million) has been siphoned off from unsuspecting victims in Singapore due to a dangerous scam involving impersonators posing as employees from renowned Chinese companies, including WeChat, Tencent, and UnionPay, since August 28th.

In a startling police advisory released on November 11, it was revealed that over 440 cases have been reported where scammers deceive victims via unsolicited phone calls, claiming to represent these reputable firms. Victims are often informed that their subscriptions—be it for insurance coverage or WeChat services—are on the brink of expiration.

But here's where it gets sinister: The scammers assert that fees will automatically be deducted from the victims' linked bank accounts unless they act quickly to cancel the subscription.

To do this, victims are coerced into verifying their identities and bank accounts by providing sensitive personal information and transferring money to various accounts, all under the false promise of a refund post-verification.

Adding to the elaborate deceit, some scammers utilize WhatsApp’s screen-sharing feature to manipulate their victims further.

“This screen-sharing capability allows scammers to fully access their victims' banking IDs, passwords, and even One-Time Passwords (OTPs),” cautioned the police. This alarming tactic urges the public to refrain from sharing screens with anyone they do not trust, as it opens the door to further victimization.

To manipulate their victims into believing their legitimacy, these scam operators often redirect calls to accomplices pretending to be customer service representatives.

Additionally, they lead victims to fake phishing websites masquerading as UnionPay's platform, complete with live chat features to add an air of authenticity.

In a shocking twist, some victims received emails allegedly from the Monetary Authority of Singapore (MAS), warning them that their financial records do not align with those held by the authority, leading to confusion and distress that only makes them more vulnerable.

The situation escalated further when victims were told their WeChat accounts were frozen, creating a sense of urgency that scam artists exploited to extract more money.

Tragically, many victims only realized the scam after completing multiple money transfers without receiving any promised reimbursement.

The police have issued a stern warning: “Never send money to anyone unfamiliar or untrusted, do not disclose personal information, bank details, or OTPs, and always be cautious about sharing your screens with strangers.”

Moreover, it's crucial for individuals to understand that the MAS does not maintain personal financial or banking account records, so any such claim should raise immediate red flags.

Stay vigilant and protect your hard-earned money from these unscrupulous fraudsters! Don't let yourself become another statistic in this wave of scams. Share this news to help spread awareness and prevent further victimization!