Over S$1 million lost to phishing scams involving fake buyers on Carousell in December

SCAMMERS posing as prospective buyers on online marketplace Carousell cheated victims out of more than S$1 million in December 2022 alone, the Singapore Police Force said in a statement on Sunday (Jan 1).

At least 1,115 victims fell prey to such scams during the month. This was more than the total number of phishing scams involving fake buyers on Carousell reported in the first 11 months of 2022.

From January to November, there were at least 975 victims with reported losses amounting to over S$938,000.

The police said that the victims – sellers of products and services on Carousell – would be asked to key in their banking details on spoofed websites to facilitate the receipt of payment from fake buyers.

The authorities said investigations showed that a “significant proportion” of the reports lodged involved unauthorised overseas PayNow transfers. “This is a troubling trend, because once money is moved overseas, the chances of recovery are very slim,” said the police.

Carousell and the Association of Banks in Singapore (ABS) are implementing measures to protect their customers, the police added.

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Some of these measures may include adjusting the mechanism of overseas PayNow transfers.

In response to queries from BT on Sunday (Jan 1), ABS director Ong-Ang Ai Boon said the association is unable to reveal more details on the measures due to “operational sensitivities”.

“Banks have been working with partners in the ecosystem such as Carousell and the Singapore Police Force to implement measures to disrupt the scammers, which may also result in ‘friction’ or delay in transactions,” Ong-Ang said.

“We advise customers to be on heightened alert amid the widespread phishing scam,” she added, noting that the banks’ systems remain secure.