According to authorities, more than 6,300 people in Singapore fell victim to "fake friend" scams last year, losing over $16 million.
Such scams entail calling victims, pretending to be someone they know, and requesting financial aid.
In recent years, the prosperous city-state has seen an increase in fraud, with police frequently alerting the public about new criminal schemes.
Police said in a statement on Tuesday that the frauds cost victims S$21.1 million ($15.7 million) between January and November of last year.
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In the most recent case, five Malaysians were extradited to Singapore on Tuesday for making "fake friend" scam calls that, according to police, resulted in over $1 million in losses.
Earlier this month, Malaysian and Singaporean police conducted a joint raid on two apartments in Malaysia's Johor state, which borders Singapore.
They arrested five males aged 19 to 36 for allegedly participating in schemes targeting Singaporeans.
The men were extradited to Singapore on Tuesday and will face charges of conspiracy to cheat on Wednesday, according to police.
Police suspect the syndicate is responsible for over 500 police reports and losses totaling over SG$1.4 million since June last year.
The five men may face up to ten years and a fine if found guilty of conspiracy to cheat.
"The Singapore Police Force has been working closely with the Royal Malaysia Police to detect and cripple these transnational scam syndicates who prey on our citizens," said David Chew, the force's Commercial Affairs Director.
