Commerce or Economics scams

E-commerce scams (Online Purchase scams)

E-commerce scams are fraudulent activities that occur on online purchasing platforms. Scammers trick victims into making payment for online purchases that do not get delivered to them. Examples of E-commerce scams include card testing fraud, friendly fraud, refund fraud, account takeover fraud, interception fraud and triangulation fraud. To avoid falling victim to these scams, it is important to verify the authenticity of the seller and monitor fraudulent seller behavior. Secure payment options should also be used.

Restaurant reservation scam

In the restaurant reservation scam, a potential customer email or calls your restaurant to request a reservation for a large group. The scammer pre-pays to hold the reservation, later cancels the reservation and asks for a refund. Typically, the scammer uses a forged check or stolen credit card to make the pre-payment.

Online Travel Vacation scams

Online travel vacation scams are fraudulent activities that occur on online travel booking platforms. Scammers trick victims into making payment for travel bookings that do not exist or are not as advertised. Examples of online travel vacation scams include fake travel websites, fake airline tickets, bogus holiday packages and fake car rentals. To avoid falling victim to these scams, it is important to verify the authenticity of the seller and monitor fraudulent seller behavior. Secure payment options should also be used.

PayPal Email scams

According to the current web page context, PayPal email scams are quite common. Scammers use phishing emails to impersonate PayPal and create a fake or “spoofed” email address that appears to be from PayPal. They will then send you an email that looks like an order confirmation for a recent purchase. Some of the common PayPal scams include:
Fake PayPal “payment confirmation” emails
Scammers sending fake invoices from real PayPal email addresses
Emails and texts claiming your PayPal account is locked or suspended
Fake PayPal “Fraud Alert” text messages
PayPal “accidental” overpayment scams
“Wrong person” transfers on PayPal
Invalid shipping address scams
Fake online stores asking for “friends and family” payments
To avoid these scams, it is best to be vigilant. Pay close attention to any email or payment you get. Never click on links from PayPal emails, and remember that official PayPal communications will always address you by name.

Car Rental / Sales scams

Car rental scams are becoming more common. Scammers may pose as rental car companies and ask for pre-payment with a gift card or prepaid debit card. Other scams involve fake ads for rental car portals and phishing emails. Scammers may impersonate rental car company representatives and offer special promotions if the rental is paid up front with a gift card or prepaid debit card. Car rental companies may push pricey insurance plans and charge surprise fees. It is recommended to research the rental car company and verify deals with the company directly to avoid scams.

Home/Room Rental scams

According to the current web page context, rental scams are when someone misrepresents a rental property or themselves to get money or information from a potential tenant. The property may be fake, already rented, or not owned by the scammer. Scammers may use fake ads, fake websites, or hijacked listings to lure renters. Renters should be wary of low prices, upfront payments, and lack of in-person viewing.

Renovation scam

Business Email Impersonation scams

Business email impersonation scams are a type of phishing scam where scammers use hacked or spoofed email accounts to pretend to be business partners, suppliers or employees when asking their victims to transfer funds to a new bank account. To protect your business from such scams, you can check your accounts first before clicking on a link. If you receive an unusual text or email claiming to be from a trusted business, do not click on the link in the message. Never call back an unknown number. Don’t pay a stranger with a gift card. Don’t give remote access to someone who contacts you unexpectedly.

Cold Call Supplier scams

Cold call supplier scams are a type of scam where scammers call business owners and offer them exclusive rights to sell a product in Singapore. They usually ask for an upfront payment or deposit before the product is delivered. To avoid such scams, you can verify the legitimacy of the supplier by checking their website or contacting their customer service. You can also check if the supplier is registered with the Accounting and Corporate Regulatory Authority (ACRA) or the Singapore Business Federation (SBF).

Dropshipping Scams

Dropshipping scams are a type of scam where scammers use dropshipping as a cover for their fraudulent activities. They usually offer fake products at low prices and disappear after receiving payment. To avoid such scams, you can verify the legitimacy of the supplier by checking their website or contacting their customer service. You can also check if the supplier is registered with the Accounting and Corporate Regulatory Authority (ACRA) or the Singapore Business Federation (SBF).

Home Delivery Scams

Home delivery scams are schemes aimed at getting money or valuable things from people by presenting fake products, services, gifts, discounts, or investment opportunities. A common trick is a fake delivery notification, which has increased during the Covid-19 pandemic. These scams can come in the form of suspicious emails, texts, or phone messages. Scammers may use a fake website to steal passwords, which can lead to loss of access to personal accounts. To avoid falling for these scams, it’s important to verify the sender’s identity by going to the delivery carrier’s website directly or using the retailer’s tracking tools. National delivery companies like FedEx and UPS do not seek payment or personal information through unsolicited texts and email.

Impersonation delivery companies scams

Impersonation scams are practices of copying identifying elements of a person, brand or organization for fraudulent purposes. Simply put, an impersonator pretends to be someone else to get an advantage. This motivation usually lies in stealing sensitive data or selling counterfeit products. Criminals use a tactic called social engineering to groom and manipulate you into transferring money or divulging your personal and financial details.