Over S$46 million in potential scam losses averted in joint operation by police, banks

During that time, over 3,300 SMS alerts were sent to more than 2,700 bank customers identified as potential scam victims, SPF said in a press release.

Robotic process automation (RPA) technology refers to the use of software or algorithms to automate structured processes. The technology had previously been used by the Anti-Scam Centre to automate information sharing and processing, as well as the sending of SMS alerts to potential scam victims. 

“The collaboration allows for rapid information exchange between the ASC and its partner banks, enabling quick identification of potential victims and timely intervention to safeguard their finances,” police said on Tuesday. 

SPF added that many of the cases in the latest operation involved investment and job scams, where victims were deceived into making multiple incremental transfers as part of fraudulent online job or investment arrangements.