The Central Provident Fund (CPF) Board launched the Trusted Contact notification service and CPF Safety Switch on Monday (Feb. 2) aimed at protecting members from scams.
CPF said in a statement, “With scam tactics becoming increasingly sophisticated, these two new anti-scam measures add to CPF Board’s existing suite of anti-scam measures to better support members in being alert to scams and to safeguard their CPF savings.”
The Trusted Contact notification service empowers members to appoint trusted persons as additional oversight of suspected scams in CPF transactions.
CPF members above 21 years old can appoint up to two Trusted Contacts who would receive a copy of the same notifications for important transactions.
“This optional service provides members with an additional safeguard by enabling someone they trust, such as a family member, to help spot suspicious transactions and intervene promptly.”
If the Trusted Contacts suspect the transactions are scams, they can advise their appointer to take precautionary measures, including alerting the bank to freeze the bank account, resetting the Singpass, disabling CPF online services through the activation of the CPF Safety Switch, lodging a police report, and informing the CPF Board.
CPF members retain full control over their CPF accounts as the Trusted Contacts cannot transact on the appointers’ behalf nor can they view the account details beyond the information in the notification.
For the CPF Safety Switch, members above 55 years old can “immediately secure their CPF accounts if they suspect they have fallen victim to a scam.”
The Safety Switch, when activated, will disable access to CPF online services and mobile apps, as well as stop all withdrawals from the member’s CPF account immediately.
The activation of the Safety Switch will not affect incoming CPF contributions or recurring payments to organisations for housing or insurance.
Eligible members may call the CPF hotline at 1800-227-1188 to activate the CPF Safety Switch.
It can only be deactivated in person at a CPF Service Centre or via the CPF hotline during operating hours.
“Members who do not intend to make withdrawals in the short term and wish to take a precautionary approach to safeguard their CPF account against potential scams can opt to activate the CPF Withdrawal Lock,” the statement added.
The CPF Board warned of evolving scam tactics.
Recent scam tactics involved impersonation of CPF Board personnels through calls, Whatsapp messages and automated voice recording systems.
The scammers would claim that the members’ Singpass was used to buy a SIM card at the Changi Airport for committing crimes in China, accuse victims of being involved in money-laundering, pressure members to hand over valuables for “investigation” or offer to fix issues with their CPF accounts.
Calls from CPF Board are only made from 6227 1188 while WhatsApp messages to members will be sent from “CPF Board Text Us” or “CPF Board” with the blue verified tick, according to the statement.
It added that CPF Board “will never call using automated voice recording systems or any messaging apps such as WhatsApp.”
Members are advised to update their contact details to receive notifications from the CPF Board for transactions made and performance of additional checks on their transactions for enhanced security.
More information on the two safety measures are available at cpf.gov.sg/trustedcontact and cpf.gov.sg/safetyswitch while more information on CPF Withdrawal Lock is available at cpf.gov.sg/switchvslock.
Members can visit cpf.gov.sg/antiscamtips for more information on fraud prevention.
