The most common frauds are investment scams, followed by unexpected money and impersonation scams. Such scam encounters in the past 12 months have typically taken place on Facebook, WhatsApp, and Telegram, according to GASA’s recent report.
Scams have reached crisis levels in Southeast Asia. The Global Anti-Scam Alliance (GASA) estimates that consumers in the region lost US$23.6 billion ($30.3 billion) in the past year, with 63% of adults experiencing a scam attempt and more than one in five losing money.
In Singapore, 21% of adults had their money stolen by scammers in the last 12 months. The average loss is US$2,132 per person, more than triple the Southeast Asia mean of US$660.
