The Business Times
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Preventing scams can only take us so far. Following the money is the next step

Funds that travel on the blockchain can be traced and recovered

Summarise
    • Public institutions and initiatives are already targeting the movement of money after they have left victims’ wallets.
    • Public institutions and initiatives are already targeting the movement of money after they have left victims’ wallets. PHOTO: ST

    Claudia Hui

    Published Thu, Oct 1, 2026 · 07:00 AM

    THERE is good news to celebrate. The Singapore Police Force (SPF) announced on Aug 26 that in the first half of 2026, the amount of scam losses fell 17.9 per cent to S$410.6 million compared with the same period in 2025.

    This extends the positive trend from 2025, when losses from scams also fell 17.9 per cent from a record high of S$1.1 billion in 2024.

    After years of grim, rising totals, the curve has finally reversed. Singapore’s anti-scam machinery – public education, the Scam Analytics and Tactical Intervention System, ScamShield, SPF’s Cyber Command and the enhanced security measures that financial institutions put in place – have proven to be effective.

    ScamsScamBlockchainStablecoinsAseanCryptocurrenciesCompliance

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