MORE than S$17.1 million in scam losses were averted in a month-long joint operation between the police Anti-Scam Centre and six banks.

The operation was conducted using robotic process automation technology to identify job, investment and other scam victims.

The technology also allowed the police to alert victims promptly through SMS alerts to prevent further financial losses, they said in a press release on Wednesday (Sep 20).

The banks that partnered the police are DBS, UOB, OCBC, HSBC, GXS and Standard Chartered.

During the month-long joint operation conducted between Aug 15 and Sep 15, the police and partnering banks sent out more than 5,000 SMSes to over 4,000 scam victims who are customers of the banks.

As a result, more than 800 ongoing scam cases, which could potentially have resulted in financial losses of more than S$17.1 million, were disrupted, said the police.

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“More than 600 PayNow numbers were also blacklisted, averting potential financial losses of S$70,000 through information sharing,” they added.

The police said that the operation is part of its continued efforts with partnering banks to safeguard bank customers and mitigate their financial losses through innovation.

Robotic process automation technology, for instance, allows the police to automate information sharing, information process and the mass distribution of SMS alerts.

“The collaboration between the police and its partnering banks has also significantly improved their outreach to promptly alert a larger number of victims within a short period of time and prevent further losses,” said the police.

Many victims only realised they had fallen prey to scams after receiving SMS alerts from the police advising them to immediately cease further monetary transfers.

In addition, robotic process automation technology allowed the police to disseminate “crucial information” concerning compromised PayNow numbers with its partnering banks. Doing so allowed the banks to swiftly address the compromised numbers.

“This collaborative initiative was a direct and proactive response to address the alarming escalation of PayNow abuse,” added the police.

They urge the public to add security features to their bank transaction process, check for potential signs of scam and tell the authorities about scam encounters.

The public can also visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688 for more information on scams.

Anyone with information on scams may call the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness.

All information will be kept strictly confidential, said the police.