Pay Attention to Avoid Being Scammed
February 24, 2022
An increasing number of Singaporeans have fallen victim to phishing scams. OCBC Bank reported that about S$13.7 million was lost in phishing scams that affected hundreds of its customers. In response, OCBC Bank is rolling out a kill switch mechanism that allows its customers to freeze all accounts if they have fallen victim to a scam. In ‘Pay Attention to Avoid Being Scammed’ (The Straits Times, February 2022), Associate Professor Irene Ng (NUS Social Work and Social Service Research Centre), Research Fellow Ms Ong Qiyan, Research Assistant Ms Evelyn Kok, and Senior Executive Ms Sandy Chen (all NUS Social Service Research Centre) outline the main reasons behind why people fall victim to scams and explain the key factors that we ought to look out for to prevent ourselves from falling prey to them.
The authors argue that the main reason people fall for scams is their lack of attention. People who are occupied with other problems are more likely to feel less focused and in the present moment. Scams exploit this attention deficit, causing people to fall into the traps that have been laid out. As a result, in addition to raising awareness about how these scams are carried out, people ought to accept the cognitive limitations that faced when encountering such scams. The authors suggest that strong state protection is still needed to mitigate the risk of online scams.
A/P Ng and her research team collected data from about 180 participants, monitoring the ways in which they juggled their work and life responsibilities. They discovered that contrary to popular narratives, education level was not directly associated with susceptibility to scams. Instead, those with income shortfalls or who are experiencing negative life events tend to possess a lower mental bandwidth. This lower bandwidth is the result of the mental demands that their current life experiences place on them. As a result, these individuals are more likely to be less focused, increasing their susceptibility to scams.
Scams seem to be increasingly prevalent in Singapore. The authors explain why people fall prey to scams and the ways in which we can protect ourselves from falling victim to these them. In addition, they also recommend solutions that organizations such as public agencies and private firms can adopt to protect Singaporeans from scams.
Read the article here.
