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He was hoping to make a quick buck and the advertisement had promised «fast cash». All Reign Lee Jing Yu had to do was give up his Singpass account details for them to be used in opening bank accounts and he would be paid $8,000. Not onlStolen Singaporean digital identities sold on Dark Web from $8, huge spike in such data being offered for sale: Cybersecurity firm
He was hoping to make a quick buck and the advertisement had promised «fast cash». All Reign Lee Jing Yu had to do was give up his Singpass account details for them to be used in opening bank accounts and he would be paid $8,000. Not only did he not receive the money, his account was used by scammers to launder $220,000, CNA reported in October 2023. The 21-year-old was dealt with under the Computer Misuse Act for disclosing his Singpass password for wrongful gain. The case was cited as an example of how cybercriminals use stolen identities for illegal activities in an article posted by California-based cybersecurity company Resecurity on their website on June 26 this year. A large number of underground sellers, the article revealed, have gotten their hands on identity data of Singaporeans and are offering them on the Dark Web for prices as low as $8. By the end of the second quarter of this year, the number of such sellers have jumped by 230 per cent compared to the same period in 2023. Read more