Scams remain a persistent concern in Singapore, but stepped-up enforcement and new legislative and financial sector safeguards have contributed to a notable slowdown in reported cases in 2025. This article explores the evolving scam landscape and the latest measures that are helping stem the tide.

The Scale and Types of Scams

In the first half of 2025, Singapore witnessed a 26% drop in scam cases compared to the same period last year, with 19,665 cases reported. Despite the drop in cases and a 12.6% decline in total losses—S$456.4 million lost in the first half of 2025 versus S$522.4 million in 2024—the problem remains acute, especially in certain categories. The most common types include phishing scams, e-commerce scams, impersonation of government officials, and a rising trend in insurance-related scams, which alone cost victims over S$21 million in the first six months of the year. However, Singapore law enforcement authorities continue to work to reduce scams.

Legislative and Enforcement Actions

A major step forward came with the Protection from Scams Act 2025, enacted in July. This allows police to restrict suspected scam victims’ banking transactions quickly, using Restriction Orders if individuals are likely to make transfers to scammers. The Act is already being used to freeze dubious transactions and protect would-be victims.

Enforcement agencies have also set up specialized teams to track and block scam proceeds through digital channels, including cryptocurrencies. The Crypto Tracing Team (CTT) uses real-time blockchain analysis, recovering assets and collaborating with local and foreign partners to outmanoeuvre scammers.

Financial Sector Safeguards

From October 15, 2025, all major Singapore retail banks will implement enhanced transaction surveillance. Digital transactions that empty more than half of an account’s balance may be delayed for 24 hours or rejected outright, especially if suspicious behavior is detected. This safeguard prioritizes higher-value accounts and builds on earlier anti-fraud measures, giving banks and authorities more time to intervene and prevent losses.

Public Awareness and Education

The government continues to drive public education campaigns, such as the recently launched “Stop and Check” Campaign, which encourages skepticism toward unsolicited requests and strengthens nationwide cyber hygiene. Public engagement initiatives feature mascot-led roadshows and cross-platform outreach.

Singapore’s multilayered approach—combining law enforcement, financial oversight, technical innovation, and public participation—shows real progress, but vigilance remains key as scammers adapt to new countermeasures.