S'porean man, 76, scammed S$55,500 by 'Ms Li' who contacted him on TikTok

A 76-year-old Singaporean man lost S$55,500 to a scammer who reached out to him on TikTok.

The scammer posed as one "Ms Li".

He said: "I saw that the other party was Chinese and looked good, so I chatted a little more."

He was first contacted by Ms Li on Apr. 21.

He did not want to be named publicly.

Took conversation to WhatsApp

The elderly man told Shin Min Daily News that he was aware of rampant scams these days, and had his guard up.

However, he let his guard down when Ms Li said she could help him turn a profit by "doing business".

They took the conversation to WhatsApp on Apr. 29.

Downloaded "commercial" TikTok app

Ms Li then introduced the man to a "commercial" TikTok app downloaded from a sketchy link.

Once he managed to register an account, he had to deposit money and put products on shelves for the business to start.

Download virtual currency wallet app

On May 1, Ms Li asked the man to download the virtual currency wallet app.

He tried twice before he finally registered successfully.

Ms Li then asked him to provide photos of the front and back of his debit card and guided him in pairing the card with the virtual currency wallet app.

He then transferred money into the wallet.

Ms Li apparently told him that the account could be used to withdraw cash given his business was in operation.

The elderly man said he could withdraw thousands of dollars in cash initially, so he ended up transferring up to S$55,500 given that it worked.

Couldn't withdraw money

He said he could not withdraw the money eventually and realised he had been cheated.

"Most of my savings were taken away, which was for retirement. I struggled for a while before I mustered up the courage to confess to my three children and then went to the police," he said.

He could not sleep and eat properly after he was cheated.

Of the S$55,500, he lost S$10,000 that he had borrowed from a friend.

He has decided to hide the truth from his wife.

He said: "I am worried that my wife will be worried and sad when she finds out the truth, so I have kept it a secret until now. I have also discussed with my children who will avail S$1,000 of living expenses every month and I will try to hide it from my wife."

Still believes in Ms Li's existence as a real person

Even though he lost his savings, the elderly man told the Shin Min reporter that he believes Ms Li is a real person and she exists in Hong Kong.

He also insisted he can still keep in touch with her.

He added that he noticed Ms Li changed mobile phone numbers to a Hong Kong-registered number.

He also said: "Ms Li's photo does not look AI generated. I have also had a video chat with her. I believe she is real."

When the reporter explained that the scammer could have utilised other people's photos, he insisted that it was impossible as Ms Li could send real-life photos in real time even when she was travelling overseas.

All photos via Shin Min Daily News