Singapore sees 40% drop in scam losses

Across Asia, total scam losses amounted to US$688.42b.

Singapore saw a 40% decline in scam losses this year, the Global Anti-Scam (GASA) Alliance reported.

GASA attributed the decline to the city-state’s preventive measures like the co-location of police and banks.

Other Asia markets which recorded a decline in losses due to scams include Japan (17%).

On the other hand, citizens of Hong Kong and Thailand experienced scams at alarming rates, with 90% reporting monthly incidents.

Across Asia, the total loss amounted to US$688.42 billion over the past 12 months, a significant share of the US$1.026t in global scam losses recorded in GASA’s 2023 report.

GASA identified identity theft, investment scams, and shopping scams as the top threats, with scammers targeting individuals via phone calls, social media, and text messages.

Follow the link for more news on

cybersecurity

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia