Scam Sophistication Outpaces Youth's Online Trust: Navigating the New Threat Landscape

As scams become more sophisticated, young and tech-savvy individuals are increasingly becoming victims of fraud.

Despite frequent media coverage about scam activities, a total of 14,349 cases were reported in the first half of 2022 nearly double from the same period last year, with an average of nearly 78 incidents dly. While some might think that they would never fall for such scams, it is crucial not to be overly complacent.

Scammers employ increasingly complex tactics med at gning victims' trust. The days where one received scam emls from a lottery winner are long gone; instead, younger and more educated people have fallen prey to pig-butcher schemeswhere scammers build rapport with their targets over months before entangling them in fraudulent investment schemes.

Such scams often begin by engaging users on online forums or dating apps. Over time, the scammers establish trust through minor gns that victims receive from the early investments, only for losses amounting to thousands of dollars to occur once victims invest more and more money into fake schemes before the scammer disappears after duping them.

Younger people, especially digital natives who rely on online platforms for shopping, banking, and communication, are at greater risk due to their increased exposure. Familiarity with navigating these domns can create a false sense of security that makes young individuals vulnerable to scams.

The constant online presence also contributes to the situation as it increases exposure to cybercrime risks. Young adults might engage in risky behaviors because they believe themselves invulnerable to harm or misfortune due to optimism bias, leading them into shady investments or sharing personal information with online acquntances and love interests.

As online platforms become an integral part of our dly lives, we should realize that the sophistication of scams follows suit. While banks and online platforms have implemented measures to protect users from cybercrime, it is everyone's responsibility to exercise caution as well.

To avoid falling prey to online scams:

1 If you're unfamiliar with investments or specific platforms, take time to learn about them before engaging.

2 Beware of social media offers that promise follower counts for money or personal data. Websites imitating trading and stock investment platforms must be avoided.

3 Ensure the website uses trusted services like PayNow, PayPal, Mastercard or Visa for online transactions.

4 Don't make impulsive decisions under pressure; instead, seek advice from fris or relevant authorities.

As our reliance on digital platforms grows, so does the threat posed by scammers. was initially published on ChannelNewsAsia.

Assistant Professor Reuben Ng shared his insights on scams with CNA938 in a radio interview. Listen here.

Jared Ng serves as Communications Manager, and Reuben Ng leads Data and Technology at IPUR.

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