Singapore has seen the number of scams involving “fake” gambling platforms rise by more than 18 times, to 299 cases, between 2019 and 2020, with victims losing in aggregate SGD15.4 million (US$11.6 million).
Victims were introduced to the problematic platforms either apps or websites via some online-dating sites, according to the reports. The sales pitch of the scammers was that the gambling sites had loopholes that would allow consumers to reap profits from playing on them.
Those targeted were asked to open a “betting account” and deposit money in a bank account, in exchange for ‘betting credits’ and the right to cash out their “winnings”.
Those falling for the trick would then be told their “betting accounts” had been frozen and that they would need to deposit more money in order to cash out their “winnings”. After the victims transferred more money to their “betting account”, the scammers would cease all communication and the “online betting” site concerned would become inaccessible.
The “fake gambling” cases made up 83% of 359 consumer-targeting scams that were probed by Singapore’s police between 2019 and 2020. The remainder were mostly investment frauds facilitated by suspected organized criminals opening bank accounts to snare money from the public.
A total of 98 suspects were investigated in relation to the 359 scams.
Victims as well as alleged perpetrators of gambling frauds, risk falling foul of Singapore’s Remote Gambling Act.
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