Police warn of loan scam involving fake letters or emails from banks and government agencies

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SINGAPORE: The police have observed a new variant of loan scams that involved fake letters or emails from banks or government agencies, requiring that victims pay an administrative fee before receiving their loan. 

At least 20 reports were received between January and April this year, with losses amounting to more than S$200,000, the authorities said in a news release on Wednesday (May 26).

In these cases, victims would receive unsolicited text messages or come across websites or advertisements offering loans.

READ: Police warn of new scam advertising fake jobs for e-commerce platforms

VIctims who replied with the intention to take up a loan would be redirected to WhatsApp to communicate their loan application. Scammers would then request for the victims’ personal particulars so the loan application could be processed. 

Subsequently, the scammers would inform the victims that the loan had been…

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