SPF, banks disrupt over 500 scams; potential losses of over $37 million averted
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More than 500 scam attempts were disrupted during a two-month-long joint operation between the police and five banks, preventing potential losses of over $37 million.Police said in a news release on Tuesday (May 12) that they partnered with five banks — DBSSPF, banks disrupt over 500 scams; potential losses of over $37 million averted
More than 500 scam attempts were disrupted during a two-month-long joint operation between the police and five banks, preventing potential losses of over $37 million.Police said in a news release on Tuesday (May 12) that they partnered with five banks — DBS, GXS, OCBC, Standard Chartered Bank and UOB — for the operation which began on March 1.This is immediately after it completed another two-month-long operation on Feb 28, disrupting over 300 scam attempts and preventing potential losses of over $24 million.Similar to the earlier operation, the police utilised robotic process automation (RPA) for upstream detection of potential victims.RPA is the technology that enables computer software to emulate and integrate actions typically performed by humans interacting with digital systems. In this instance, the use of RPA allowed them to streamline information exchange, thereby enabling the police to swiftly reach out to potential scam victims through SMS alerts. Read more
