‘Rich and naive’: why Singapore is engulfed in a ‘scamdemic’

‘Rich and naive’: Why Singapore is engulfed in scams

City-state residents who spend a lot of time online and are naturally compliant with authority are especially vulnerable.

‘Rich and naive’: why Singapore is engulfed in a ‘scamdemic’

City-state residents who are digitally native and naturally compliant with authority are especially vulnerable to fraud

Singapore Considers Caning Punishment for Scammers Singapore Considers Caning Punishment for Scammers

Government debates stricter penalties as scam losses hit record highs in 2024 Highlights: Record scam losses: Singaporeans lost $1.1 billion to scams in 2024, prompting calls for tougher penalties. Caning proposal: Minister of State for Home Affairs Sun Xueling suggests caning as a deterrent for serious scam-related offenses. Public reaction: Experts and officials debate the effectiveness of corporal punishment in reducing financial fraud. Summ…

Singapore is the 2nd most expensive city in the world for students

SINGAPORE: A recent study from the international remittance service firm Remitly revealed that the Little Red Dot is the second most expensive city across the globe for students. Remitly looked into data from more than 1,700 universities and cities, which showed that seven out of the top 20 most expensive places for students are cities […] The post Singapore is the 2nd most expensive city in the world for students appeared first on The Independe…

Singapore “Scamdemic” Attributed to “Rich and Naive” Population

Singapore has among the highest per-capita scam losses globally. In 80% of reported cases, victims transfer funds to fraudsters voluntarily. To continue reading... Sign in Password * Remember me Lost your password? Subscribe Subscribe to Regulation Asia to gain access to APAC’s leading platform for news, analysis, research and verified data on financial regulation. Select More Informat…

FT article describes Singaporeans as ‘rich and naive’ amid S$1.1 billion lost to scams in 2024

An article published by the Financial Times (FT) has cast a harsh spotlight on Singapore’s worsening online scam crisis, describing the Republic as being engulfed in a “scamdemic”. According to the FT report published on 26 May 2025, Singapore’s unique blend of affluence, high digital connectivity and strong social trust has made it a fertile target for international scam syndicates. The article, titled ‘Rich and naive’: why Singapore is engulfe…