Woman in Singapore loses over RM68,000 from credit card and bank accounts after downloading third-party app

SINGAPORE: A horrifying incident has left a woman in Singapore, known by the pseudonym Lim, devastated after scammers gained control of her Android phone and banking details, resulting in the loss of over S$20,000. Lim had been searching for healthy meal delivery options for her elderly parents and came across an advertisement on Facebook from a company called Healthy Box, which appeared to be from a local caterer called Grain. Unsuspecting, she contacted the seller through Facebook messenger and then continued the conversation on WhatsApp. The seller, posing as Grain, sent her a link to download an app to make the order. After installing the app, Lim was asked to make a payment of S$58 via PayNow. When she messaged the seller to explain that the PayNow option was not working, she received no reply.
Later that day, Lim noticed that her phone was unusually hot. When she switched it on, it performed a factory reset without her permission. Thinking nothing of it, she went about setting it up again. It wasn’t until she tried to use her ATM card to withdraw money and found that her bank balance was zero that she realised something was seriously wrong. Upon contacting the DBS customer service hotline, she discovered that over S$20,000 had been transferred out of her account. Investigation later revealed that the scammers had increased her credit limit and transferred money out of her accounts without her knowledge.
Lim has been left in a dire financial situation, with no funds to cover her credit card bill and concerns about meeting housing and other loan payments. She sought help from her Member of Parliament to write appeals to DBS, the police, and the Monetary Authority of Singapore (MAS) to waive the amount taken from her credit card account.

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This incident is part of a rising trend of banking-related malware scams targeting Android users in Singapore. In many cases, victims unknowingly download malware on their phones after being instructed to do so by scammers posing as sellers on social media platforms. The malware allows scammers to gain control of the device, record keystrokes, and steal banking credentials. They can then log into victims’ banking apps, increase credit limits, transfer money, and cover their tracks by deleting notifications.
The police and the Cyber Security Agency of Singapore have warned Android users to be vigilant and follow best practices to protect their devices. Banks have also been increasing security measures to combat these scams, and users are urged to only download apps from official stores to reduce the risk of malware.

If you encounter any suspicious activity on your account, it is crucial to contact your bank immediately and report the incident. Stay cautious and vigilant when conducting financial transactions online to protect yourself from falling victim to scams.

Credit: The Star : Tech Feed