Victims lose over $162k to phishing scams involving social media ads in September

Victims of phishing scams disguised as advertisements on social media have collectively lost at least $162,000 since Sept 1.

In these cases, victims would come across advertisements or sponsored posts on platforms like Instagram, Facebook and TikTok promoting heavily discounted items such as personal accessories, electronics, food and cleaning supplies.

Clicking links embedded in these posts would lead victims to either a phishing site which prompted them to key in their card details and one-time passwords to pay for the products themselves, or delivery.

Victims would only realise they had been scammed when they discover unauthorised transactions charged to their cards or when the items are not delivered.

There is a recent uptick in phishing scams, with at least 173 reports lodged in September, said the police on Monday (Sept 30).

The police advised the public to take precautions such as setting limits on their cards for online transactions and enabling multi-factor authentication for banks and e-wallets to avoid such situations.

Members of the public are also urged to verify the authenticity of advertisements and posts with merchants, and report any suspicious links. 

The total number of scam cases reported in the first half of 2024 increased by 16.3 per cent as compared to same period last year, according to its Mid-year Scams and Cybercrime Brief for 2024.

Of these cases, 27.3 per cent constituted e-commerce scams. 

Facebook emerged as the top platform for these types of scams, accounting for 38.6 per cent of cases. 

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The police also encouraged members of the public to download the ScamShield app which was recently enhanced to include a "Check for Scams" function.

This function uses artificial intelligence to identify and alert users about potential scam threats across platforms.

Those with any information regarding such crimes should contact the police at 1800-255-0000 or submit it online.

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bhavya.rawat@asiaone.com