Some may be wondering how such scams are successful, more so with transfers from highly secure CPF, with even OTP verification process.
Ultimately, it's about allowing Remote Access with one's home computer or handphone, often auto configured by an app.
Originally, such apps were meant as teaching tools by school & investment firms, to show which button to click for an operation, etc, thru sharing of computer screen, which means the teacher has access to the student's computers.
Scammers use such methods thru seemingly innocuous apps to gain remote access to ones computer or handphone - seeing everything on one's handphone, including OTP...thus overcoming the verification process.
As a counter measure, each should own 2 handphones & 2 bank accounts - one for work, bank, & verified govt agencies for correspondence & verified double confirmed private & necessary transactions.
Another handphone would be for recreation, to watch videos, download games or online purchases, with the separate bank account having less than $200, so that if scammed by remote access, one would only lost a few dollars & not hundreds of thousands.
Furthermore, the scam would be revealed for authorities to investigate, making life difficult for the scammers over limited gains.