Trend Micro Study Reveals Singaporeans’ Dangerous Misconceptions about Scams

SINGAPORE, April 14, 2025 – Singaporean consumers have a false sense of security around online scams, as revealed in a recent study by Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity. Half of Singapore consumers (50%) are confident in their ability to easily identify scams by looking for grammar or spelling errors, and majority (70%) believe they are safe from text message scams if they avoid clicking on suspicious links. However, scams have evolved significantly—cybercriminals now leverage AI, deepfakes, and advanced social engineering tactics to launch more compelling scams that are much harder to detect.

Scam losses in Singapore reached a record high of S$1.1 billion in 2024, a surge of over 70% compared to the previous year. Yet, many Singaporean consumers continue to underestimate the risks they face by simply being online. More than two in five (42%) think they are only at risk if they overshare online, while nearly four in five (77%) believe they can only be extorted if they share explicit content online. However, given the increasing prevalence of data breaches, Singaporean consumers face a growing risk of losing their personal data to cybercriminals through private channels. This exposes Singaporean consumers to a variety of crimes—from identity theft and impersonation scams to fraud—even without having shared any sensitive information publicly.

The survey further revealed that only 15% of respondents have a secret word or phrase to verify family or friends in emergencies, showing a clear gap between scam awareness and preparedness. This may stem from misconceptions about scam vulnerability; despite younger adults being equally at risk, nearly one in four (24%) still believe only older, less tech-savvy individuals are targeted.

Ashley Millar, Consumer Education Director at Trend Micro: “As cybercriminals adopt AI and other advanced technologies, many consumers remain misinformed about the full extent of the risks they face. At Trend Micro, we’re committed to empowering individuals with tools like the Trend Micro ScamCheck to detect emerging threats and protect their data. Education and vigilance are key—consumers must actively stay informed to prevent falling victim to increasingly sophisticated scams.”

Cybercriminals continue to employ increasingly aggressive techniques to target consumers of all ages worldwide. Trend has committed to addressing this problem through:

• Innovation: Trend Micro ScamCheck helps consumers identify potential scams and growing AI threats like deepfakes.
• Education: Since 2008, Trend has reached over 5 million people through its curriculum and events. The company will kick off a new webinar series starting early March 2025 dedicated to the issue of fighting scams.
• Collaboration: Trend is the first foundation partner of GASA and will be a thought leadership sponsor at GASA Summits worldwide in 2025

Trend’s research was conducted from January 27–February 5 among 1021consumers in Singapore.

*Global State of Scams Report 2024 - GASA