Retailers in Singapore are being targeted by scam syndicates using stolen credit card details for fraud.
SINGAPORE – A concerning trend has emerged, where foreigners are being recruited by syndicates to carry out credit card fraud in Singapore. The fraudsters, often recruited via social messaging platforms, use stolen credit card details, which are then loaded onto mobile apps for contactless payments. These individuals, believed to be unaware of the scam, are instructed to purchase high-value items such as mobile phones, electronics, and gold bars, which are later sold for cash.
Since November 4, at least 10 victims have reported unauthorized transactions totaling over $100,000. Items such as iPhones, chargers, and jewelry were purchased and fraudulently charged to victims’ credit cards. The syndicates are known to operate across various nationalities, and this has led to multiple arrests.
On Nov 6 and 7, three Chinese nationals, aged between 29 and 36, were arrested for their involvement in one such scam. They had allegedly used contactless payments to buy iPhones at the Apple Store on Orchard Road. In a separate case, two individuals were apprehended for attempting to fraudulently purchase iPhones at Best Denki at Parkway Parade.
As investigations continue, the police have issued an advisory to retailers, warning them of suspicious transactions, such as multiple failed contactless payments and attempts to conceal the customers’ identities. The authorities urge retailers to be vigilant and report any suspicious activities to prevent further fraud.
