Scammers
October 2nd, 2023 | 
Author: 
It’s easy money for the scammer, but a painful experience for the victim. An elderly man, Mr Loh, 74 years old, lost his retirement savings of $70k, because he had let his guard down for that second.
If it is too good to be true, it just is. Period. We know it. Mr Loh was specifically warned by his children about it. He said he suspected it to be a scam too. So this exchange to buy a Peking duck from a supplier named “Xiao Xiao Ya Zi” told place on Whatapps. The advertisement came on FB.
“”I asked him, “Is this a scam?”” Mr Loh recalled. “(The scammer) said that no one would be cheated of $5 and that this was a small thing. He told me that I had a lot of wisdom and experience (incidentally, Mr Loh was himself an importer).”
Unfortunately, Mr Loh agreed with the anonymous vendor. His rationale? “I agreed to proceed since this was a matter of only $5.”
But that $5 was the bait that hid the hook, and that hook was to do two things after the call (which was merely a voice message). First, the voice message asked Mr Loh to download a third-party app called Grab&Go. And second, the voice message requested Mr Loh to use PayNow to make a deposit (of $5) before the order for Peking duck (at a steal of $23.80) could be made.
That $5 was the insidious Trojan horse to get Mr Loh to uncover his bank account via PayNow, and that downloaded app hijacked his phone and pass control to the scammers. With the bank account exposed, the scammer pretended to be Mr Loh and requested the bank (in this case, DBS) for an increase in the transaction limit from $3k to $59k.
As if that was not enough, the scammer also asked for a further $11k in credit advance from Mr Loh’s DBS credit card.
At this stage of the scam, the screen went blank for more than 30 minutes. This was where Mr Loh and family panicked, and called the scammer, who perpetuated the lie with this assurance: “the phone resetting was normal”. This bought the cheat some time to complete the transaction.
Altogether, in 6 hours, the transfer, which started off as a friendly chat, wiped out $70,000 of Mr Loh’s savings.
Mr Loh lamented: “I couldn’t believe the news. I thought: Why am I so stupid? I was so angry at myself for being cheated of my life savings. My family was frustrated and I ended up quarrelling with my wife.”
Mr Loh has three children, and they were heartbroken. As his children, “they have educated their parents about such scam.”
Lesson? I know how this feels. Someone close to me had been scammed too. I sympathise with Mr Loh and his family.
The scammers have no conscience. They are online wolves diving into a pen packed with innocent sheep, regardless of age. They know someone would bite, even those who have been duly warned about it. Education doesn’t guarantee prevention. And that drives them to scam. It costs them little for a chance of a windfall at the victim’s expense.
To them, it’s a score to be celebrated. To the victim, it’s their life savings they have liquidated. To them, it’s a few hours of breeze work to fleece. To the victim, it’s money earned over years or decades of hard work.
If only these scammers got a taste of their own medicine, when their loved ones become victims themselves, and experience the despair. But that’s wishful thinking, because at times, karma is a broken boomerang that hits off target. Bad people do get away, many do. It’s a fact, or a stats.
Mr Loh questioned why DBS didn’t inform him immediately when his transactional limit skyrocketed (from $3k to $59k, and when the scammer applied for a $11k advance on his credit card). “I know that some banks require a 12-hour cooling-off period when there is an increase (in funds transaction limits). But my credit limit was changed immediately without my permission and knowledge.”
Well, the papers gave little detail of DBS’ response. When contacted, DBS just said that “it has dedicated resources to act swiftly to help customers who are scammed.” It reports that “(the victims) can call the anti-fraud hotline on 1800-339-6963.” Well, that may just be a case of shutting the stable door when the horses have all bolted.
Education, or forewarning, needs to be encultured, or ingrained. It needs to be assimilated to become a habit, where we are always taking the precautionary stand, regardless of the enticement or logic.
Scammers strike anytime, anywhere, and on anyone. When in doubt, stop and consult. Don’t ever think you know the ways of the scammers, because they use charm and logic too to disarm you…recall this assurance - “He told me that I had a lot of wisdom and experience. I agreed to proceed since this was a matter of only $5.”
While the banks have to urgently up their game, since they have effective control, we have to up ours too.
Increase awareness. Talk to loved ones about it more often. Tell them not to take anything for granted. If it is a stranger danger situation, or even if some apps deepfake your loved ones’ voice or face, double or triple confirm it by calling that loved one, on the spot. Nothing is what it seems; make that warning an ingrained habit.
It is said that in a time of universal deceit, telling the truth is a revolutionary act. Likewise, in a time of universal scams, taking precaution at all times is a necessary act. Don’t ever let your guard down, especially when it seems completely logical to do so. The only way to disarm you is to win your trust. Don’t let them win.
Take care. Be vigilant. If all else fails, don’t answer, don’t click, don’t return call, don’t trust. Just walk away. That Peking duck, that mooncake, and that durian tour ticket is just not worth it.
Remember, it may be your life savings, hard earned. But it’s their one-minute operation, easy and breezy cash.
Michael Han
* The author was a Director at Han & Lu Law Chambers and blogs on Facebook.
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Posted in 
Agree with Michael Han. However the scam has 2 parts. First the customer himself who downloaded the app but the bank itself can be seen or taken as being scammed because the system did not trigger a lockdown although his maximum limit of $3000/- was breached. This is the second part. The scam can only succeed with the ” help,” of the banks. So the next question is how can we trust the bank employees themselves when they are allowing the scam to succeed? Are the details of customers’ bank balances being shared. MH hit the nail when he said, “in a time of universal scams,” but then if we know that a scheme has so many flaws in it, why is the govt. insisted on implementing it? The next question is are govt. officials knowingly or unknowingly promoting a scheme they know that can scam the Public?
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The customers deserve everything they get if they fall for these scams. No one else is responsible. There are enough safeguards anyway. Do not pity them. Play stupid games win stupid prizes.
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Again I say, these scams no longer work in China anymore. the authorities have implemented so many levels of checks from police, banks to internet police that for one to be scammed is like striking a lottery.
For starters, there is an official app that are linked to the police that checks all incoming and outgoing. Even their virus software checks the apps installed against genuine versions, too many policies to even name.
And while the Chinese authorities are doing all that, the LEEders are contemplating how many percentage points to raise so they can make more money from the peasants and how much more jobs to create for their khakis.
kenneth was right in saying that Dafts deserve what they voted for. lol
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The case can be summarized as follow.
70% to Scammer: Are you a scammer?
Scammer: Of course not. Trust me.
70%: Yes. I trust you.
SCAMMED.
Some time later.
70% to Scammer: Aren’t you the scammer?
Scammer: Trust me.
70%: Yes, I trust you.
SCAMMED.
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Well, the author has left out the ‘kleptocrats’ and their hordes of spiritual gurus, yogis, swamis and ‘maharajahs’ in B&W bungalows and istana who have hundreds and even thousands of followers in this country. I wonder how history will judge this phenomenon compared to the current crop and their sycophants… these scammers are pick pockets.
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Two type of scammers.
No get caught r good scammers.
Get caught r bad scammers.
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Now everything also needs to download apps- hospitals, banks, cpf, insurance, supermarkets, taxi, grabs, shopping malls etc, thus people tend to believe downloading apps is normal.
Just wondering why must we make things so convenient yet so problematic at the same time?
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The real scammer is, as we all know, PAP.
Every election the dafts get scammed over and over and it always results in the same old shit over and over and over. And yet these kiasee dafts have this stupid thinking that no one else but PAP can do the job.
Well, they are doing a job all right. Doing a really fantastic job too if I might say so myself. What a great con job yearly with GST/fare hikes/water/electricity/S&CC increases!
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Well now,
Curiosity kills the cat.
But then again,
Cats have 9 lives.
Scams will live and thrive as long as there are cats.
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Fujian Scammers have been let in and living in our midst for the past 7 years.
Who let them in??
Imagine they have to take a month to prepare answers to MP questions.
It take many lies to cover a lie.
”’32 parliamentary questions on money laundering case to be answered in ministerial statement in Oct””
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Now too easy for scammers…
It is the system…yes the victims deserve it until it is you that scammed.
Need to get all to act together to prevent scam,especially those that has the resources such as Bank.
For a start ,make the Bank pay 30% of the loss unless they can prove they have done all that is possible.
Maybe should give all account holders the option to do actual transaction at the counter if exceed their own preset limit eg $5000 etc.This way will limit their max loss compare to now…
“Mr Loh questioned why DBS didn’t inform him immediately when his transactional limit skyrocketed (from $3k to $59k, and when the scammer applied for a $11k advance on his credit card).”This should never be allowed by the Bank as it is easy to detect such abnormality…a simple call or email message for approval/Confirmation would have stop it.
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DBS cares for you, trust DBS to safeguard your money and future, with DBS your life is secured!
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Such scammers are street hooligans compared to the $in Inc Mafi$o.
Peanuts like Goh CHOKE Tong says.
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Stupid?
Yes.
Help you?
Give me $5
The greed is for a duck.
Never eat duck before??
How can good quality food be sold over the internet..??
ImperiaL Treasure?
Stupid..?
Yes.
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The ones who pushed us into this ‘digital’ thing to stretch their profit are the ones who are not responsible for making us as victim of scams.
Tell you all this:
Just make a law which says Banks and amy financial institute are 100% responsible for customers who falls victims to scammers and liable to return 100% lost money to their customers…. and we will see over night none of them will go into digital services.
Privatize profit and socialize losses, this is the era we are in today.
The physical token used to works well. Now we are forced to use everything on a single phone. When the phone is hacked, your 2FA will happen while you sleeping. All signs will be deleted while you are sleeping.
In the past, we logged in pc or laptop to do banking. It shut off, risk restricted. Now banking via phone apps, your phone is 24/7 subjected to hacking and exploitation. Can you sleep at ease? Can you go toilet without gluing yoir eyes to your phone so that you can ‘happened’ to catch ‘suspecting’ activities?
When the private sector leaks your data, they are fines hundred of thousands or millions, what happened when government leaks your data or via 3rd party contractors?
Governments, are they responsible? You bet!
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“But that $5 was the bait that hid the hook, and that hook was to do two things after the call (which was merely a voice message). First, the voice message asked Mr Loh to download a third-party app called Grab&Go. And second, the voice message requested Mr Loh to use PayNow to make a deposit (of $5) before the order for Peking duck (at a steal of $23.80) could be made.
That $5 was the insidious Trojan horse to get Mr Loh to uncover his bank account via PayNow, and that downloaded app hijacked his phone and pass control to the scammers. With the bank account exposed, the scammer pretended to be Mr Loh and requested the bank (in this case, DBS) for an increase in the transaction limit from $3k to $59k.”
The above cannot be enough for the scam to work. Or the Paynow is really bad. Why would using paynow expose bank account and password? If this is the case, the bank should pay 100% of the loss.
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As this article describes, PayNow, PayLah and PayDaft, have become major mechanism enabling theft. I’m sorry to have to say this, but I now treat every call, email, text, messenger et al with suspicion. There are so many red flags nowadays that you almost have to be purposely ignorant to fall for any these scams.
The lesson from this article seems to be that if you lose money through fraud that utilizes a service created and promoted by your bank, the only way to get your bank to admit its responsibility and refund your money??? is to KPKB on Facebook and contact the Shin Min Daily News.
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Bought $50’s worth of Toto today’s Draw of $10M.
One sole First prize winner ,don’t know real or not,wins $13M snowballed.
Winning numbers are:- 2 10 12 13 45 48 & 11.
Imagine 10,12,13,11?
In the past when prize winnings are in few millions,usually more than 1 winner share the prize money.
Now,only 1 winner for Big prize money usually.
Who really win the First prize ,hard to say.
Not transparent actually if got genuine winner or not?
Wasted $40.
Got back nothing.
Who win ,kee chiu.
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The Paynow process is at fault. 100%.
The payment process exposes the user’s entire banking access. In sharp contrast, the process for credit card payment exposes only the credit card.
The gov and the banks must WAKE UP and change the paynow process NOW! The Paynow process must be isolated capsule that does not endanger a user’s banking accounts.
Hold the banks responsible.
Paynow process.
Step 1:Log in to your bank’s existing internet banking or mobile banking app. Step 2:At the PayNow transfer screen, enter the recipient’s mobile number, NRIC/FIN or UEN and the amount to be transferred.
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Major call or online scam centers come from India.
The more advanced will take over the control of your phone, watch what you doing with the phone 24/7, collect all the info and wack your account while you are not using your phone.
Most of the time, they will have local bridge accounts which they took over from those foreign workers who sold their account once they return home or gone other countries and no longer working in SG.
Such accounts, used once for scam bridging transfer and then discarded.
When you sleep, these scammers will be actively operating your phone and do transfers to bridging accounts in local and home banks, delete away security codes to the same phone after use, and removed any messages of withdrawals.
Your same phone with bank apps, singpass apps, receive security codes and messages is a ONE-STOP SERVICE CENTER convenient store for scammers.
Enjoy the convenience and restrictions of this and that requiring you to install APPS for all kinds of activities. These days any biz that need me to install apps, I will stop patronizing. But how do I reject government agencies requiring me to install apps? But they never responsible for creating such a damgerous culture.
You can’t even know whether your legit apps are compromised. Can you?
Good luck all, there will be significantly much more people going to loss their life savings in such manner. Digital transactions is what our SG government forcing into our throats.
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Do you know that as Singaporean, you can no longer open any new POSB accounts?
Instead, only foreign workers can open new POSB account and these accounts provides heaps of services including convenient easy transfer of moneies (with a small fees of course) to their home banks.
Guess how much fees the banks are making each day on transfers.
Welcome to 2020s
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