The Police has published a media release stating that there has been a resurgence of loan scams.
The scammers will pretend as banks or govt agencies to cheat people of their money. The scammers would often say that there is an admin fee before releasing the loan amount to the victim.
But as usual, paying the admin fee will lead to the scammers disappearing from their victims.
The Police said that there were 17 victims from 1 September to 4 October losing a total of more than $130,000
Victims might receive unsolicited text messages or come across websites or adverts offering loans in these circumstances.
Victims would then be instructed to interact over WhatsApp for the loan application, where the scammers would collect personal information from the victims in order to process the loan application.
Following that, the scammers would notify the victims that the loan had been accepted.
Image Source: Singapore Police Force