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5 retailers in renovation industry lose at least $25k in 2 weeks to bulk order scams

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The scammers would pose as customers to purportedly place bulk orders with renovation retailers.

SINGAPORE - At least five victims have fallen prey to a scam targeting retailers in the renovation industry, with at least $25,000 lost in total since April 12.

The fraudsters would pretend to be customers and contact such businesses either over the phone or through WhatsApp to purportedly place bulk orders. The scammers would then recommend a “supplier” where the businesses could purchase the additional items. This would persuade the businesses to make upfront payment for orders placed with the “suppliers”. They would realise they had been scammed when their bank accounts did not reflect the payments that had allegedly been made.

 

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