SINGAPORE - Scam victims in Singapore lost $1.1 billion in 2024, marking a record high amount of losses suffered in a single year. The total amount lost to various ruses is 70 per cent higher than the $651.8 million scammers took in 2023, said police in releasing annual scam figures on Feb 25.

Singaporeans lost a record S$1.1 billion ($822 million) to scams last year, with cryptocurrency schemes accounting for almost a quarter of the losses, the city-state's police force said on Tuesday.