S'pore man sells watch online & falls for phishing scam, his mum, 64, loses S$4,600, retains S$0.12 bank balance

A 64-year-old Singaporean woman was left with just 12 cents in her bank account after her eldest son allegedly fell victim to a phishing scam while trying to sell a watch on the online marketplace Carousell.

Listed watch on Carousell

Speaking to Shin Min Daily News, the woman, surnamed Jiang (transliteration), said her son had listed a watch for sale on Carousell for S$50.

On Jul. 9, a prospective buyer contacted him on to express interest in the item, and the pair later exchanged phone numbers and continued their conversation on WhatsApp.

They agreed on the sale two days later on Jul. 11.

Sent an email with a link

According to Jiang, her son had initially requested payment via cash or PayNow.

However, the buyer insisted on making payment through Carousell instead.

Wanting to complete the transaction quickly, her son agreed and the buyer subsequently sent him a payment link via email.

Jiang said her son clicked on the link without suspecting it was fraudulent.

The webpage closely resembled Carousell's interface, displaying photos and prices of the watches her son had listed, as well as what appeared to be the buyer's personal information.

The buyer allegedly instructed him to click "Receive Payment" and enter his bank account details.

"As my son's bank account was temporarily unavailable, he entered my bank account information instead and asked me for the one-time password," Jiang said.

After keying in the one-time password, her son asked her if she had received the S$50 payment.

Instead, Jiang discovered that S$4,600 had been transferred out of her bank account.

"After receiving an notification from the bank, I immediately called them, but the money had already been transferred out," she said. "The bank subsequently advised us to make a police report."

The following day, Jiang revisited the same link and found that it had become a scam website.

She said the fraudulent transaction wiped out her savings, leaving her with just 12 cents.

For now, Jiang said she has to borrow from relatives and friends to cover her daily expenses, as well as rely on her company's earnings.

Although her son had fallen victim to the scam, Jiang said she did not blame him entirely, believing he had simply been eager to complete the sale.

She hopes that by sharing her experience, others will be more cautious and avoid clicking on links sent by strangers.

In response to queries from Shin Min, the police confirmed that a report has been lodged and investigations are ongoing.

Financial struggles

Jiang told Shin Min that her husband died suddenly three years ago, leaving her to take over the family's car repair business.

Only then did she learn that the business had been operating at a loss for years and had accumulated substantial debt.

"For the past few years, I've been constantly juggling funds to repay debts, borrowing from one place to cover another. As a result, the company's finances have remained in the red for a long time," she said.

She also alleged that while reviewing the company's accounts, she learnt that the company's accountant, who was responsible for its finances, had misappropriated tens of thousands of dollars in company funds by transferring the money into her own bank account under the pretext of paying salaries.

Despite this, Jiang said she ultimately chose not to file a police report because the accountant also had a family to take care of.

Instead, she asked the woman to sign an IOU and repay the money in monthly instalments.

Jiang added that her eldest son has a criminal record and has struggled to secure stable employment, while her younger son has declared bankruptcy and is currently unemployed.

She is also caring for a grandson with autism and said she is the family's sole breadwinner.

The S$4,600 lost in the phishing scam represented all of her personal savings, leaving her under mounting financial pressure as she continues to support her family and repay debts.

To ease the burden, Jiang said she has put her five-room HDB flat in Telok Blangah up for sale.

"I hope to cash out and move to a smaller home to ease some of the financial burden," she said.