Man, 74, loses $70k life savings to scammer who told him he ‘had a lot of wisdom and experience’

A 74-year-old man lost $70,000 to online scammers who infected his Android phone with malware via a third-party app, which he downloaded after falling for an advertised deal on Facebook for a Peking duck. The scammers siphoned money from his DBS and POSB credit card and bank accounts. The fraud highlights an ongoing trend, as $10 million was lost in the first half of 2023 from over 750 scam victims due to unauthorized transactions performed by malware.