Cpf scam
Imagine trying to buy seafood online and losing $40,000 worth of CPF savings (pension). And we thought that online scams were just limited to phishing emails and SMSes. This one was more elaborate as it involved an omni channel approach between Facebook ads and engaging with someone on WhatsApp to and fro. Then after victim went to bed , all his CPF was withdrawn from his bank account and thereafter transferred out. What happened? #malware was used to compromise mobile devices, resulting in unauthorised transactions from the victims’ bank accounts even though they did not reveal their internet banking credentials, one-time passwords or Singpass credentials to anyone. In this case, CPF savings were withdrawn and credited to victims' bank accounts before being transferred out. This happened after victims responded to advertisements on social media platforms like Facebook and were instructed by scammers to download mobile apps from third-party sites or via WhatsApp, resul...