SINGAPORE: The police are sounding the alarm on a new scam tactic involving digitally altered copies of Singapore identity cards. This technique allows scammers to fraudulently open accounts with payment service providers (PSPs) and engage in illegal activities.
How the Scam Works
Scammers first obtain a soft copy of an identity card, then use digital tools to alter the facial image on it. They submit this doctored version to open payment accounts online. When the PSPs conduct facial liveness checks, the scammers have accomplices who resemble the altered image go through verification, allowing them to bypass security measures.
Impact on Victims
- Some of the misused identity cards have belonged to victims who previously provided their soft copies to scammers.
- Once accounts are set up, these accounts are used to receive scam proceeds from victims.
Measures Taken by Authorities
In response to this rising threat, the Monetary Authority of Singapore has alerted all financial institutions to this modus operandi. Affected PSPs have already tightened security measures to combat this issue. The police have urged financial institutions to enhance their customer onboarding processes to prevent exploitation.
Public Advisory
Members of the public are advised to refrain from sharing personal identification documents without verifying the request’s legitimacy. It’s crucial to ensure that the purpose for which you’re providing such sensitive information is clear and valid.
Legal Ramifications
Forging a document or electronic record, particularly with the intent to cheat, can lead to severe consequences. Offenders may face up to 10 years of imprisonment and hefty fines.
Using Trusted Verification Methods
The Cyber Security Agency of Singapore suggests that businesses utilise services like Singpass for user verification instead of relying on soft copies of identity cards for online transactions. This approach not only provides better security but also helps to deter scammers from exploiting vulnerabilities.