Singapore recorded fewer scams in the first half of 2026 but victims still lost S$410.6 million.
Reported cases fell 14.4% year on year to 16,821, according to Singapore’s Mid-Year Scam and Cybercrime Brief 2026. Losses declined 17.9% from S$500.2 million.
Scams accounted for more than nine in 10 scam and cybercrime cases recorded between January and June.
The median loss fell 19.8% to S$1,350, while 4.7% of cases involved at least S$100,000.
Victims made the transfers themselves in 80.8% of reported cases.
Scammers usually manipulated them through deception and social engineering rather than gaining direct access to their accounts.
Investment Scams Caused the Biggest Losses
Victims lost S$169.8 million to investment scams, the highest amount among all scam types.
Government official impersonation scams ranked second with S$90.8 million in losses.
Business email compromise losses nearly tripled to S$57.3 million as cases rose 67.9% to 262.
Scammers typically impersonated companies or employees through fake or compromised email accounts and redirected payments.
E-commerce scams were the most common, rising 19.3% to 3,865 cases.
Victims lost S$8.3 million, including S$1.2 million through scams involving Pokémon trading cards.
Cryptocurrency losses fell 43% to S$65.5 million but still made up 16% of the total.
Tether, Ethereum and USD Coin accounted for most of these losses.
The Anti-Scam Centre froze more than S$97.7 million linked to reported scams, including over S$8 million in cryptocurrency.
This money was frozen in accounts and wallets linked to scammers or money mules and had not necessarily been returned to victims.
Most Scammers Reached Victims Online
Online platforms were the first point of contact in 89% of cases.
Facebook, WhatsApp and Instagram together accounted for 34.1% of all reported scams.
The Singapore Police Force disrupted more than 47,500 mobile lines, 37,500 WhatsApp lines, 31,600 online accounts and advertisements, and 52,200 scam-related websites during the six-month period.
Singapore has proposed fines of up to S$10 million for online services that fail to meet anti-scam requirements under the Online Criminal Harms Act.
The government also plans to test a recognisable number prefix for calls from public agencies later this year.
Featured image: Edited by Fintech News Singapore, based on image by Ruslan Batiuk via Magnific
