The Singapore Police Force (SPF) said the total number of scam cases also increased by 10.6 per cent to 51,501 cases in 2024, which accounted for 92.3 per cent of cybercrimes reported last year.
The majority of the scam cases saw losses of less than S$5,000 while the median loss per case was S$1,389.
“In addition, through proactive interventions with victims at various stages of being scammed, ASCom and its partners had averted at least S$483 million in potential losses,” SPF said in a statement.
Meanwhile, e-commerce, job, phishing, investment, and fake friend call scams were the top five scam types in 2024 in terms of case numbers.
Self-effected transfers accounted for 82.4 per cent of total reported scam cases last year.
Scammers commonly reach out to victims through messaging platforms, social media, phone calls, and online shopping platforms.
In 2024, 70.9 per cent of scam victims were youths, young adults, and adults aged below 50.
Police said although the elderly made up only a small proportion of the scam victims, the average amount they lost per victim was the highest among the various age groups.
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