Over $410m lost to scams in first half of 2026; 8 in 10…
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Over $410m lost to scams in first half of 2026; 8 in 10 victims voluntarily handed money to scammers
This showed that instead of gaining direct control of bank accounts, **scammers were using social engineering to deceive victims into voluntarily making transactions.**
Singapore has lost more than $4 billion to scams since 2019.
The elderly, aged 65 and above, made up 14.4 per cent of scam victims, with the average amount lost per victim at $42,347.
Meanwhile, adults aged 30 to 49 made up 36 per cent of scam victims, with most falling for e-commerce, phishing and job scams.
E-commerce was the most common scam type, with 3,865 cases in the first half of 2026 and losses of over $8 million.
I thought adults are supposed to be more tech savvy than the elderly? Why are more of them losing money to scams?
#local
This showed that instead of gaining direct control of bank accounts, **scammers were using social engineering to deceive victims into voluntarily making transactions.**
Singapore has lost more than $4 billion to scams since 2019.
The elderly, aged 65 and above, made up 14.4 per cent of scam victims, with the average amount lost per victim at $42,347.
Meanwhile, adults aged 30 to 49 made up 36 per cent of scam victims, with most falling for e-commerce, phishing and job scams.
E-commerce was the most common scam type, with 3,865 cases in the first half of 2026 and losses of over $8 million.
I thought adults are supposed to be more tech savvy than the elderly? Why are more of them losing money to scams?
#local
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