Singapore's Anti-Scam Centre and Banks Prevent S$38 Million in Fraud Losses
In a two-month period, Singapore's Anti-Scam Centre and five banks averted over S$38 million in scam losses, halting more than 600 attempts. This collaboration highlights the efficacy of Robotic Process Automation in combating various types of fraud.
Theia Market Signal Identification - AI Assisted
Between 1 May and 30 June 2026, Singapore's Anti-Scam Centre collaborated with DBS, UOB, OCBC, Standard Chartered Bank, and GXS to prevent over S$38 million in potential scam losses. Utilizing Robotic Process Automation technology, this effort enhanced the detection and intervention of scams related to government impersonation, investments, jobs, e-commerce, and rentals.
The partnership enabled quicker information sharing, allowing banks to identify victims before funds were transferred. Public advisories emphasize the importance of security features, including the ScamShield app and two-factor authentication, to mitigate risks.
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