Consumer Social Intelligence Safety and Security Report 2024
Key Opportunities
Singapore | 01 Oct 2023 - 31 Mar 2024
1. Educate online shoppers about fake websites threats
Addressable Insight:
Fraud carried out using fake or fraudulent websites came up multiple times. Consumers discussed a reportedly new phishing scheme using counterfeit websites purporting to be a leading fast-food company. Scammed individuals entered their credit card information on the site, resulting in S$27K of losses. The fast-food company urged clients to verify website addresses and cautioned against clicking sponsored Google ads. People also discussed a fraud instance concerning fake Facebook advertisements selling organic eggs. These ads directed users to a website prompting the input of banking login credentials, resulting in a family losing S$150K. Finally, fraudsters claimed to sell cheap branded suitcases on a shopping platform. After clicking ad posts, victims were redirected to a phishing website.
Action Items:
All customers who are likely to shop online should be educated about these fake website scams. Banks might conduct social media and email campaigns targeting online shoppers; these campaigns would aim to educate about common fake website scams, provide guidance about clicking results from search engines and offer advice about reporting fraudulent websites and ads.
Key Message
How to shop online safely and how to recognise scam websites.
Proposed Actions
Banks and financial institutions can train people to better identify and avoid these fake website scam tactics. If appropriate, they could also offer guidance on what consumers should do if they suspect or have identified a fake website, or what do to if they have been scammed.
2. Raise online consumers’ awareness of fake e-commerce message scams
Addressable Insight:
Consumers discussed a scam involving fraudsters posing as hotel representatives from hotels that were booked on an accomodation booking site. Victims were lured into confirming reservations via fraudulent online links via emails or messages on the site’s app. This led them to enter personal and financial details on fake websites. Forum participants expressed apprehension and recommended direct bookings with hotels.
Action Items:
Consumers should be educated about not trusting inbound communications from e-commerce providers and platforms, even if they appear convincing and are related to bookings or orders the consumer has made. Banks could employ social media and email marketing efforts to educate their clientele about fraudulent e-commerce message schemes. This content should include insights into scammer tactics and advise consumers to always contact customer service teams of retailers and service providers directly to check if communications are legitimate.
Key Message
How to stay safe when dealing with customer service messages from
e-commerce providers.
Proposed Actions
Banks and financial institutions can provide guidance to enhance individuals' ability to recognise and steer clear of deceptive customer service messages. Additionally, they can offer guidance on steps to take if consumers suspect that they have encountered a fraudulent message or have fallen victim to a scam.
3. Educate consumers about reporting cyber fraud to relevant government agency
Addressable Insight
In discussions on online fraud, multiple consumers shared stories of them falling victim to scams. One victim shared that they reported the fraud on www.csa.gov.sg/reporting (Singapore Cyber Emergency Response Team) after meeting with online cyber fraud.
Action Items
Banks should consider email marketing and social media campaigns to educate customers on reporting cyber fraud on www.csa.gov.sg/reporting . Content would be teaching them about how to report fraud on www.csa.gov.sg/reporting and the scenarios in which they can report the fraud.
Key Message
Use www.csa.gov.sg/reporting to report accounts that indicate frauds such as phishing, extortion, scam mails, online fraud, phishing website scam, ransomware attacks and others.
Proposed Actions
Banks and financial institutions can educate consumers on how to report cyber fraud on www.csa.gov.sg/reporting. They can also provide guidance on how to use the portal and scenarios for which fraud can be reported.
