How much money have victims lost to malware scams since December 2024?

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Victims have lost S$625,000 to malware scams since December 2024.

Since December 2024, at least 82 cases of malware scams have been reported in Singapore, resulting in a total financial loss of S$625,000. These scams typically begin with deceptive advertisements on social media platforms like Facebook and TikTok, offering enticing services such as travel or cleaning. The modus operandi involves luring victims into sharing personal contact information before proceeding with fraudulent financial transactions.
Initial Contact and Fee Collection

The fraudulent scheme commences when potential victims express interest in advertised services and provide their contact details. Scammers then initiate contact, often through WhatsApp, and request a small fee, such as a S$5 membership charge, or an upfront deposit. This initial request is usually presented as a precursor to securing the advertised service.
Phishing Links and Malware Installation

Following the request for payment, victims are directed to a phishing link to process the transaction. Upon clicking this link and entering their credit or debit card information, they often encounter simulated payment issues. To "resolve" these fabricated problems, victims are instructed to download a malicious Android Package Kit (APK) file, which is designed to install applications on Android devices.
Device Compromise and Information Theft

Once the malicious APK file is installed, the malware gains the ability to remotely control the victims' devices. In some instances, victims are further guided to disable security features like Google Play Protect, leaving their devices and personal data highly vulnerable. This compromised access allows scammers to steal sensitive information, including critical SMS one-time passwords, which can then be used for further fraudulent activities.

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How much money have victims lost to malware scams since December 2024?

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