Countries are keen to adopt Singapore’s anti-scam measures, such as the SMS Sender ID registry, says Minister Josephine Teo
SINGAPORE: At the inaugural Global Fraud Summit in London on Monday (Mar 11), Singapore and 10 other countries jointly endorsed a communique underscoring their commitment to tackling fraud and recovering funds obtained through scams. This collaboration reflects the growing global consensus that fraud is a pressing issue that requires cooperative action, according to Second Minister for Home Affairs, Josephine Teo.
The communique outlines shared goals, including exploring ways to enhance the recovery of fraudulently acquired assets across jurisdictions. Australia, Canada, France, Germany, Italy, Japan, New Zealand, the Republic of Korea, the United Kingdom, and the United States are also signatories.
Minister Teo emphasized the importance of international cooperation, noting that fraudulent funds often move quickly across borders. She highlighted the role of industry stakeholders, particularly in sectors like telecommunications and e-commerce, where fraudsters exploit platforms to defraud users. “We need these platforms to step up their anti-scam measures,” she stated.
“International collaboration is a vital component of Singapore’s strategy in combating fraud,” she added. “We are committed to doing our part, both at home and globally.”
Thanks to international partnerships, Singapore has successfully dismantled 19 transnational scam syndicates over the past year, leading to the arrest of over 110 individuals. In 2022 alone, more than 19,600 bank accounts were frozen in Singapore as part of coordinated efforts to trace and freeze scam-related funds, with over S$100 million in scam losses recovered.
The Ministry of Home Affairs reports that Singapore saw a record 46,563 scam cases last year, with victims losing S$651.8 million. Job scams, e-commerce fraud, and fake friend call scams were the most common. However, phishing scams remain a significant global concern.
Teo pointed out that some countries are interested in adopting Singapore’s SMS Sender ID Registry, a system that helps prevent phishing scams by marking unsolicited messages as “Likely-SCAM.” This registry has been instrumental in reducing phishing scams within Singapore, and other nations are now keen to implement similar measures.
Countries also expressed interest in Singapore’s Online Criminal Harms Act, which allows the government to request social media platforms disable scam-related content and accounts. These initiatives, coupled with international cooperation, can help prevent fraud tactics from gaining traction across borders.
Teo emphasized that information exchange between countries is crucial, particularly when scammers test new methods in one jurisdiction before adapting them in others. “Opportunities to exchange information regularly can help prevent certain types of scams from emerging or spreading,” she concluded.
Through continued global collaboration, Singapore aims to stay ahead of evolving fraud typologies and enhance efforts to safeguard users worldwide.
