SINGAPORE, Nov 16 — A new scam trend targeting retailers in Singapore has led to over S$100,000 (RM333,377) in unauthorised credit card transactions.

The Business Times reported that foreign nationals, allegedly recruited by overseas syndicates, have been using stolen credit card details to make high-value purchases through contactless payments.

The stolen information, obtained through online phishing scams, is loaded onto mobile apps for remote access to make purchases at local retailers.

It is understood the fraudsters, instructed by their handlers via social messaging platforms, travel to Singapore to buy expensive goods such as mobile phones, electronics, and jewellery, which are then resold for cash.

Over the past month, several such incidents have been reported, with victims of e-commerce scams discovering unauthorised transactions totalling more than S$100,000 on their credit cards. Items purchased in these transactions include iPhones, chargers, and jewellery.

On November 6 and 7, three Chinese nationals, aged 29 to 36, were arrested for using stolen credit card details to buy iPhones at an Apple Store on Orchard Road.

The suspects were later found in possession of more than S$20,000 in cash, four gold bars, and 27 iPhones.

In a separate case, two Malaysians were arrested after attempting to buy mobile phones at a local store using a mobile wallet.

They were charged with one count of cheating, and police seized S$7,600 in cash, three mobile phones, and a bank receipt.

Singapore police have issued a warning to retailers to remain alert for suspicious activity, particularly when customers make multiple contactless payments, use different cards, or avoid tax refunds.

According to The Business Times, scam incidents have escalated in Singapore this year, with over S$385.6 million lost in 26,587 cases during the first half of 2024.

Authorities have stressed that those involved in fraudulent activities face serious penalties, including up to 10 years in prison and hefty fines.