76-year-old Singapore man loses S$55,500 to TikTok scammer posing as business partner via fake app

Summary

A 76-year-old man in Singapore lost S$55,500 in a scam after being contacted by a woman on TikTok who introduced herself as “Ms Li.” The scam began on April 21 when the woman proposed a business opportunity and later directed him to download a fake TikTok Shop app and a virtual currency wallet app. He transferred money into the wallet app after being assured he could withdraw it, but eventually discovered he could not access his funds. The scam caused him significant emotional distress, including sleepless nights and a loss of appetite, and he had to borrow S$10,000 from a friend. He filed a police report on June 6, but has not yet told his wife about the scam. Despite realizing he was scammed, he still believes “Ms Li” is a real person and continues to communicate with her.