Victims would receive SMSes from unknown +65 local mobile numbers, purportedly from banks, promoting fixed deposit schemes with high interest rates.
Once contacted, scammers would pose as bank agents and provide fraudulent identification such as staff passes. In some cases, victims would receive forged bank statements claiming that new bank accounts are under their names.Victims were told that the accounts are created 'for them' or is an account to 'hold the funds prior to the creation of their account', thereby dissuading further verification.
In some instances, the scammer might quote an 'activation period' which delays the discovery of the scheme.
Bank
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