Multiple Countries Grapple with Growing Threat

With the rapid advancement of information technology, telecom and online fraud methods have become increasingly sophisticated and ever-evolving, posing a growing challenge for many nations.

In Southeast Asia, Singapore serves as a prime example. The country has seen a continuous rise in financial fraud and cybercrime cases in recent years, showing a clear upward trend. To tackle this pressing issue, the Singaporean government has adopted a multi-pronged approach—strengthening legislation, intensifying public awareness campaigns, and enhancing police capabilities in handling such cases.

In January this year, Singapore’s Parliament passed a significant law granting police the authority to restrict bank accounts of suspected fraud victims. Initially designed to protect potential victims from remote scams conducted via phone or online platforms, the law was later expanded to cover traditional fraud cases.

Data released by Singaporean police revealed that in 2024, scam victims suffered record losses totaling S$1.1 billion. The number of fraud cases rose by nearly 11% compared to the previous year, reaching 51,501 incidents, while total losses surged by 70% year-on-year. Investigations found that many victims willingly transferred funds to fraudsters’ accounts, leading to their financial losses.

According to Thailand’s Electronic Transactions Development Agency, the country recorded over 3,300 fraudulent advertising cases in the past year, including investment scams, celebrity impersonation, counterfeit product sales, fake financial institutions, and fraudulent websites. These scams caused losses exceeding 19 billion baht. In 2024, more than 400,000 cybercrime cases were reported, with total losses surpassing 60 billion baht. In the first half of 2025 alone, authorities received 166,000 complaints, over 50% of which were related to online transactions.

Anukul Peedkaew, Deputy Spokesperson for the Thai Prime Minister’s Office, stated that the Ministry of Digital Economy and Society is ramping up oversight. Online platforms suspected of facilitating fraud will be classified as "high-risk" and subjected to stricter regulations, with penalties for violations.

Currently, the Thai government has directed relevant agencies to collaborate on preventing and combating online fraud, particularly by regulating digital platforms under the Data Protection Act.