Scammers are posing as representatives from M1 and the Monetary Authority of Singapore (MAS) to deceive victims into handing over their ATM cards, banking passwords, and One-Time Passwords (OTPs). The Singapore Police Force (SPF) recently intervened and recovered valuables and prevented losses of approximately $50,000.

This type of scam, where scammers pretend to be from a trusted company or government agency, is becoming increasingly common.

🚩 Remember that no government agency, including MAS or the Singapore Police Force, will ever ask you to hand over your ATM card, share your OTP, or give up your valuables as part of any investigation.

Knowing how a scam works is the best way to protect yourself and your loved ones.

How the M1-MAS scam works:

Step 1: You receive a call that appears to be from M1. The caller tells you that your identity has been used to sign up for a phone package without your knowledge, and that you need to pay a fee or cancel the subscription.

Step 2: You’re transferred to an "MAS officer". The scammer transfers you to a person who claims to be from MAS. They tell you that you’re under investigation for a financial crime, and that they are there to help you.

Step 3: Requests for your personal information. As part of the supposed investigation, you’re asked to hand over your ATM card and PIN, or share OTPs sent to your mobile phone. You may also be asked to pass your valuables to someone described as a "courier" or "investigation officer" (both fraudulent) who arranges to meet you in person.

Step 4: Your bank account is emptied. Once the scammers have your ATM card, PIN, or OTPs, they immediately access and withdraw funds from your bank account.

How to protect yourself:

Know what government agencies will and won’t do. Real government officers will never ask for money, valuables, or your personal banking details. If a caller claims otherwise, it is a scam.

Hang up and call the agency directly. If you are unsure whether a call is genuine, hang up and contact the organisation yourself, using only the number listed on their official website. Do not use any contact details provided to you by suspicious callers.

Never share your OTP or banking details with anyone. OTPs and banking passwords are for your use only. No legitimate officer, company, or government agency will ever ask you for these.

Take your time, do not let anyone rush you. Scammers create a false sense of urgency to prevent you from thinking clearly or checking with someone you trust. If you feel pressured, stop and speak to a family member or friend before doing anything.

Download the ScamShield app. Use it to block scam calls and filter scam text messages. If you receive a suspicious call or message, report it directly through the ScamShield app or call the 24/7 ScamShield Helpline at 1799.

For more information on scams, visit ask.gov.sg/scamshield