Police, banks prevented 15,000 scam victims from losing $69m
The Straits Times|January 10, 2024
Robotic tech helped identify the victims and alerts were sent to them
Vihanya Rakshika
Police, banks prevented 15,000 scam victims from losing $69m

Police have partnered with four banks over 15 weeks to prevent more than 15,000 scam victims from losing over $69.43 million.

The police’s Anti-Scam Centre (ASC), together with DBS Bank, UOB, OCBC Bank and Standard Chartered Bank, employed robotic process automation (RPA) technology to identify job, investment and other scam victims. RPA uses bots or artificial intelligence to learn and then replicate repetitive tasks.

From Sept 16 to Dec 31, 2023, the police and the banks issued more than 48,000 SMSes to the victims, who are customers of the four banks, interrupting over 5,300 scams in progress.

“RPA technology has enabled the police to automate information sharing, information processing, and the mass distribution of SMS alerts,” the police said on Jan 9.

“The collaboration between the police and partnering banks has also significantly improved their outreach to promptly alert a larger number of victims within a short period of time and prevent further losses.”

Many victims realised they had been scammed only after they received the SMSes, which advised them to stop any further monetary transactions.

هذه القصة مأخوذة من طبعة January 10, 2024 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة January 10, 2024 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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