Scammers have always pretended to be business partners or supervisors, tricking employees into replying to seemingly legitimate work emails and defrauding them of money.
Typically, these email addresses are simple spelling errors of legitimate business email addresses, for example, missing letters or replacing numbers with letters that look similar.
The police said on Wednesday (May 6) that in the first quarter of this year, there were more than 100 reports of such scams, with a loss of S $ 9.2 million. The number of reported cases increased by 30%, but compared with the same period in 2019, the number of frauds fell by 28%.
Since employees of many companies work at home and may require them to process payments remotely, these scams are relevant throughout the circuit breaker period.
The police said that scammers may use this situation to deceive more people because work arrangements may lead to less supervision.
Police said on Monday (May 4) that scam victims lost a total of $ 41.3 million in the first quarter of 2020, with e-commerce and loan scams being the most common.