72-year-old man loses savings to foreign woman

A 72-year-old man with dementia has reportedly lost his savings after becoming infatuated with a young foreign woman. He has emptied tens of thousands from his Central Provident Fund (CPF) account. This incident took place in Singapore and has raised concerns about financial scams targeting vulnerable individuals. The man's sister, Ms. Huang, learned about the situation when her brother mentioned meeting a beautiful Taiwanese woman at a hotel during Chinese New Year. She noticed that his monthly rental income was missing, and he had borrowed money from others. In March, Ms. Huang discovered that her brother's CPF savings had been wiped out. She found ten Google Play Gift Cards in his home, which made her suspect he had been scammed. Google Play Gift Cards are no longer available in physical stores in Singapore, but they can be purchased online. Diagnosed with dementia earlier this year, the man struggles to communicate clearly and has not disclosed any details about giving money to the woman. Ms. Huang faced challenges when trying to investigate further. She considered hiring a private detective but found it too costly. Efforts to check his bank records and contact the police hit administrative roadblocks. In Singapore, around 10% of people aged 60 and over suffer from dementia, and this number is expected to rise. Experts suggest caregivers should be vigilant for warning signs, such as unusual financial activities or sudden losses. Financial institutions in Singapore have guidelines to help staff recognize signs of mental decline in customers, and they encourage protective measures to safeguard the finances of those affected.