Authorities warn public about scam calls impersonating MAS officials

At least three cases have been reported since March 2025, resulting in losses of more than $614,000.

The Monetary Authority of Singapore (MAS) and the Singapore Police Force have issued a joint advisory alerting the public to a scam involving the impersonation of MAS officials.

According to the advisory, at least three cases have been reported since March 2025, resulting in losses of more than $614,000.

In these cases, victims received unsolicited phone calls from local numbers starting with “8” or “9.”

The callers claimed to be MAS officers and directed victims to verify their identities via the MAS Register of Representatives — a legitimate platform listing representatives from licensed financial institutions.

However, the advisory clarified that the Register does not list MAS employees and cannot be used to confirm if a caller is an actual official.

After directing victims to the website, the scammers would allege that the victim’s bank accounts were linked to money laundering activities or that their personal data had been compromised.

Victims were then persuaded to share sensitive information such as SingPass credentials, banking details, or to transfer money to a designated account. In some cases, the scammers used PayNow accounts that displayed the victim’s name to make the transfers appear more credible.

The authorities emphasised that MAS officials, or any legitimate government representatives, will not ask individuals to transfer money, disclose personal or banking information, install unofficial mobile applications, or transfer calls to the police unless the caller has dialed 995 for a life-threatening emergency.

To guard against such scams, the public is advised to follow the ACT framework: Add the ScamShield app, set secure transaction limits, and activate banking features like Money Lock; Check by verifying information independently through official sources such as gov.sg or the ScamShield helpline at 1799; and Tell the police, your bank, and those around you if you suspect or have fallen victim to a scam.

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