Among those who had received job offers with easy money for working just a few hours each day, 25% chose to engage with these texts or emails received, driven by the need for extra income (35%) and curiosity (31%). (Lindsey LaMont/Unsplash)
Singaporeans are more vulnerable to such scams due to increased costs and a challenging job market
By June Loh
With 53 percent of Singaporeans reporting being targeted by job scams, Singapore has emerged as the most targeted country in Asia Pacific (APAC), according to a research by Trend Micro.
This research was conducted earlier in August as part of a global study of 7,693 consumers across Australia, Canada, Japan, New Zealand, Singapore, Taiwan, the United Kingdom and the United States. 535 of these consumers, who were aged 18 and above, were surveyed in Singapore.
Other countries were less targeted than Singapore, with Australia having 42 percent targeted by job scams, 30 percent in Taiwan and just 12 percent in Japan.
Nearly one in five Singaporeans had been affected by a scam, according to the research. 40 percent discovered the scam only after losing a significant amount of money, 20 percent after their account was hacked and 16 percent when their bank alerted them.
Job Scams
A job scam is one where scammers might pretend to be legitimate employers or recruiters, tricking job seekers into giving up money, personal information or performing illegal activities, according to Randstad, a leading recruitment company.
This can include a number of methods where scammers trick victims. Firstly, scammers can set up fake accounts on social media and messaging platforms like LinkedIn, Facebook or WhatsApp to reach out to victims, sending victims fraudulent job advertisements to bait users to ask for more information.
Some fake recruiters pretend to work with the HR department of a company, sharing realistic job advertisements, sometimes with promises of overseas transfers. They will ask for an upfront payment for a work visa or a health checkup, which is a scam.
One of the most common scams involves calls from unknown or foreign numbers offering remote work opportunities with lucrative commissions.
Upon engaging with the scam, victims are asked to register on a website, where their personal details or login credentials are phished. They may receive small commissions initially, but are then pressured to transfer money to an account to secure larger commissions.
The Trend Micro research also shows that this was a common way of scamming: 69 percent, or at least two-thirds of job or income offers received by Singaporeans, promised easy money for working just a few hours each day.
Reasons for High Scam Rate
Changing macroeconomic pressures and increased living costs are the top two factors that leave Singaporeans vulnerable to scams.
From the Trend Micro research, 47 percent indicated that their income source or financial security had been negatively impacted in the last 12 months. Within this group, 62 percent said that it was mainly due to increased living expenses.
“Emotions are a powerful psychological tactic that scammers often capitalise on. In uncertain economic times, this vulnerability becomes even greater, alongside other visible pressures such as a challenging job market and rising living costs,” said Mr Ashley Millar, Consumer Education Director at Trend Micro.
“In high-stress, high-pressure moments, consumers must combine knowledge and awareness, with healthy scepticism, caution and the right digital tools to stay safe online,” he added.
Among those who had received job offers with easy money for working just a few hours each day, 25 percent chose to engage with these texts or emails received, driven by the need for extra income (35 percent) and curiosity (31 percent).
The Singapore Police Force reported on Aug 29 that there have been at least 122 reported cases since Aug 1, with total losses amounting to at least $1.3 million — just in the month of August.
Preventing Scams
Noting the severity of scams in Singapore, ScamShield has advised Singaporeans to add privacy settings to messaging apps like WhatsApp or Telegram to avoid being added into unknown chat groups, and to set up security features like transaction limits for internet banking, or enabling Two-Factor Authentication (2FA) for banks and e-wallets.
They have also recommended downloading the ScamShield App to protect oneself from scam calls and texts, and to always check the authenticity of job offers by directly contacting the company.
For those already targeted by a job scammer, Randstad recommends immediately stopping all communications, as the scammer will simply move on to the next victim. Next, one should report and block the users directly on the messaging app, which will prompt the platform to review the case and take further action.
One should also contact their bank if financial or personal information has already been shared. The bank’s customer service agent can then provide a list of steps to stay secure.
Lastly, the scam should be reported to the police, especially if money has been lost or personal data has been shared. This is to help the police piece together information from various victims and arrest the syndicate or individuals behind the scams, preventing more cases.
Comments