Taiwan and Malaysia Scam Group Targets 'Singaporean Chinese' with 7 Billion Scammed from Thousand Victims

Reported about 1 year ago

The Criminal Investigation Bureau, together with Singapore and Malaysia police, cracked down on an international scam group targeting Singaporean Chinese, leading to the arrest of 4 suspects in Taiwan. The group posed as various online shopping platforms and tricked victims into downloading specific apps to make payments, which contained Trojan viruses that allowed them to steal online banking funds, resulting in losses up to 7 billion New Taiwan Dollars. The group also impersonated brand operators to sell goods like durians, mooncakes, e-cigarettes, clothing, pet grooming, car sharing, household cleaning, and fake online gambling, instructing victims to download programs for payments with embedded malware. At least 1899 victims, all Singaporean Chinese, were scammed, with illicit profits amounting to 780 million New Taiwan Dollars. While cooperation led to arrests in Taiwan and Malaysia, the masterminds may still be in Malaysia. Although the transnational scam was busted, extradition between Taiwan and Singapore does not occur, with fraud in Taiwan carrying lesser penalties compared to Singapore's harsher punishments, as demonstrated by the 44-year-old ringleader who paid bail with property seized fitting the discrepancy in legal consequences.

Source: YAHOO

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