Singaporean authorities have issued a warning about a surge in scams where individuals impersonate staff from Shopee, UnionPay, and the Monetary Authority of Singapore (MAS).
Since January 2025, victims have lost at least S$1.4 million across 12 reported cases.
The scam typically begins with a call from someone claiming to be a Shopee employee, who falsely informs the victim that they had previously signed up for an insurance policy and now face recurring charges.
The victim is then transferred to a supposed UnionPay representative, who requests personal and banking information under the pretense of verifying policy details.
The victim is then told that unless they cancel the policy, recurring fees will be deducted from their bank account.
To process the cancellation, the scammer instructs them to transfer funds for “safe-keeping” using WhatsApp’s screen-sharing function.
In some cases, a third scammer posing as an MAS officer claims the victim’s bank accounts are involved in money laundering activities and demands a transfer to assist with investigations.
Fake court orders are sent through WhatsApp to make the request appear legitimate.
Victims realise they’ve been scammed when the fraudsters become unreachable or when they do not receive the promised refunds.
Shopee, UnionPay, and MAS have reiterated that they will never request personal information or payments through unsolicited calls, emails, WhatsApp messages, or SMS.
Authorities urge the public to be cautious, avoid sharing personal details or transferring money to unknown individuals, and verify any suspicious requests through official sources.
They recommend using the ScamShield app to block scam calls and messages, setting transaction limits, and activating the Money Lock feature in bank accounts.
Those who suspect they have fallen victim to a scam should contact their bank immediately to block fraudulent transactions and report the case to the police.
More details on scam prevention are available at www.scamshield.gov.sg.
Featured image credit: Edited from Freepik
