Authorities Alert: MAS Impersonation Scam Hits Singapore

The Monetary Authority of Singapore (MAS) and the Singapore Police Force have issued a joint advisory warning the public about a sophisticated scam involving the impersonation of MAS officials. Since March 2025, at least three cases have been reported, with victims losing over $614,000 collectively.

Scammers are using local phone numbers starting with “8” or “9” to pose as MAS officers. They direct victims to the MAS Register of Representatives, a legitimate platform listing representatives from licensed financial institutions. However, the advisory clarifies that the Register does not include MAS employees and cannot be used to verify if a caller is an actual official.

After directing victims to the website, the scammers allege that their bank accounts are linked to money laundering activities or that their personal data has been compromised. Victims are then pressured into sharing sensitive information such as SingPass credentials, and banking details, or transferring money to designated accounts. In some cases, scammers use PayNow accounts displaying the victims name to make the transactions appear more credible.

The authorities stress that MAS officials or any legitimate government representatives will never ask individuals to transfer money, disclose personal or banking information, install unofficial apps, or transfer calls to the police unless the caller has dialed 995 for a life-threatening emergency.

To protect yourself, follow the ACT framework:

1. Add the ScamShield app, set secure transaction limits, and activate banking features like Money Lock.
2. Check by verifying information independently through official sources such as gov.sg or the ScamShield helpline at 1799.
3. Tell the police, your bank, and those around you if you suspect or have fallen victim to a scam.

Stay vigilant and safeguard your finances from these increasingly sophisticated scams.