The Police would like to remind members of the public to remain vigilant against government official impersonation scams involving cryptocurrency transfers. Between January and March 2025, there were at least 19 cases reported with total losses amounting to at least $2 million.
In this scam variant, victims would receive unsolicited calls from scammers impersonating representatives from banks, insurance/payment institutions, airlines or telecommunications companies.
Scammers would claim that victims had conducted banking or financial transactions, had outstanding premiums associated with a new or expiring insurance policy under the victim’s name, or had phone numbers (or other personal/banking information) registered under the victim’s details that were found to be involved in fraudulent activities. When victims denied performing such transactions, they would be transferred to another scammer claiming to be a government official (e.g. Monetary Authority of Singapore, Singapore Police Force (SPF), Ministry of Law, China Police). This scammer would accuse victims of being involved in criminal activities (e.g. money laundering).
Scammers would deceive victims into performing cryptocurrency transfers to “safety account” for investigation purposes. Victims would be instructed to download cryptocurrency applications, i.e., Coinbase, OKX, StraitsX to set up an account or wallet. The victim would then be directed to purchase and transfer cryptocurrencies i.e., USDC to a cryptocurrency wallet address provided by scammer. In some cases, victims were provided with specific email addresses and/or passwords and instructed to set up accounts with these details. Victims would realise that they had been scammed when the scammers become uncontactable or when they seek verification with SPF.
We would like to remind members of the public to NEVER transfer or give monies or valuables i.e., cash, cryptocurrencies, precious metals to any unknown persons or persons whose identity you did not verify. Singapore Government officials will never ask members of the public to do the following over a phone call ask you to transfer money, disclose banking log-in details, install mobile apps from unofficial app stores or transfer your call to the Police.
Members of the public are also encouraged to adopt the following precautionary measures:
- ADD – Add the ScamShield App to block calls and filter SMSes. Set transaction limits that are adequate for daily expenses, and lower transaction notification thresholds. Alert the bank immediately of any suspicious activity in your bank account. Activate the Money Lock feature of your bank to “lock up” a portion of your money so that it cannot be transferred out digitally by anyone.
- CHECK – Check for scam signs with official sources such as the ScamShield App. Call and check with the 24/7 ScamShield Helpline at 1799.
- TELL – Tell the authorities, family, and friends if or when you encounter scams. If you suspect that you have fallen victim to a scam, call your bank immediately to block any fraudulent transactions and make a police report.
For more information on scams, members of the public can visit www.scamshield.gov.sg. Fighting scams is a community effort. Together, we can ACT Against Scams to safeguard our community!
SINGAPORE POLICE FORCE
11 August 2025 @ 10:15 PM