A 75-year-old woman in Singapore lost around S$600,000 (approximately RM2.1 million) after falling victim to a scammer who posed as billionaire entrepreneur Elon Musk.
The scam, which lasted between three to four years, only came to an end after police stepped in and restricted her access to banking services.
Thought she was helping “Elon Musk” save his business
Reported by Mothership, the woman’s daughters said their mother genuinely believed she was assisting Musk with his business.
The scammer first contacted her through social media before moving their conversations to WhatsApp. He even used AI tools to conduct video calls, making the impersonation more convincing.
Over time, she transferred between S$1,000 (approximately RM3,500) and S$5,000 (approximately RM17,500) per transaction to multiple bank accounts. In total, she lost around S$600,000 (approximately RM2.1 million).
Family only found out after police intervened
The situation only came to light in April 2025, when the woman attempted to transfer S$67,000 (approximately RM234,500).
The transaction triggered an alert at Standard Chartered Bank, prompting police to contact the family.
Her daughters later discovered that she had been in contact with the scammer for years, often messaging late at night without raising suspicion.
Despite efforts from both her family and authorities, the woman remained convinced the man was real and refused to believe she had been scammed.
Drained savings and planned to sell her home
By the time the scam was uncovered, the woman had already exhausted her savings.
Her daughters said she had even planned to sell her S$2 million apartment (approximately RM7 million) and terminate her insurance policies to raise more money for the scammer.
She also continued attempting to transfer funds using her own accounts as well as those belonging to family members.
Police issue restriction order to stop further losses
The scam only stopped after police issued a Restriction Order on Jul. 10 under Singapore’s Protection from Scams Act 2025.
The law allows authorities to direct banks to limit an individual’s access to financial services if there is reason to believe they may continue sending money to scammers.
The woman became the first person to be issued such an order since the law came into effect on Jul. 1, 2025.
Her daughters described the move as crucial in preventing further losses.
“The best thing that happened to our family”
One of her daughters shared that the family had been living in constant fear that their mother would continue transferring money.
She added that without the restriction order, their finances could have been completely wiped out, potentially affecting important medical treatments for their father.
My mother still doesn’t realise she’s been scammed. The restriction order being in effect is the best thing that has ever happened to our family,” she said.
The woman was also diagnosed with psychosis in late 2025, which may have contributed to her refusal to accept the reality of the situation.
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