Singapore lost S$456 million to fraud in the first half of the year, with cryptocurrency scams accounting for 18%

PANews reported on September 7 that according to FintechNews, the Singapore Police Force released fraud and cybercrime data for the first half of 2025. The data showed that Singaporeans lost approximately S$456 million to fraud, a decrease of approximately S$66 million from the previous year. The number of fraud and cybercrime cases fell by 21.5% to 22,476, compared with 28,625 cases in the same period last year. Losses caused by cryptocurrency-related fraud accounted for nearly 18% of the total losses, reaching S$81.6 million, mainly involving Tether, Bitcoin and Ethereum. The Anti-Fraud Command also recovered S$56.7 million, including S$17 million in cryptocurrency, and worked with partners to avoid another S$179 million in potential losses.