The recent case of Ms Lie, who lost over $111,000 to online scammers (Woman loses over $111,000 after downloading third-party app to buy durian tour ticket, Sept 28), reminds us that progress often brings unintended consequences.

This incident recalls a parallel with a time when the Government encouraged citizens to embrace stock market investing, resulting in both financial gains and significant losses.

Singapore’s journey towards becoming a Smart Nation is commendable, offering numerous opportunities and advancements. However, it also poses challenges for the less tech-savvy. The digital landscape can be treacherous, as exemplified by Ms Lie’s experience, just one of many similar incidents.

In the late 1990s and early 2000s, Singapore actively promoted stock market participation, ignited by the SingTel IPO in 1993. A friend, who is a seasoned stock market investor, expressed incredulity at the Government’s push to get newbies invested in the stock market, which has its own fair share of scams, such as Ponzi schemes and market-manipulation tactics such as “pump-and-dump”.

While some thrived, the Asian financial crisis and the tech bubble’s burst brought financial losses and disillusionment for others, resulting in bankruptcies and even suicides.

In the context of our Smart Nation initiative, we face similar challenges. Digitalising our lives and society offers growth opportunities but also introduces new risks, such as online scams and cyber threats.

Even as the Government’s efforts to educate the public, such as the Infocomm Media Development Authority’s Seniors Go Digital, are commendable, and local banks are scrambling to roll out additional controls, they still lag behind the fast pace of technological innovations and nimble criminals.

Personal financial transactions are concentrated in single points of failure, regardless of a user’s technical level, posing challenges for all stakeholders.

Success as a Smart Nation means making digital innovations accessible and secure for all, regardless of their background or expertise. The latest incident should prompt more comprehensive efforts to shield people in the evolving digital realm, especially taking time to build solutions that are “goof-proof”.

As we pursue progress and innovation, let’s remember the valuable lesson from the past: with each step forward, we must protect those at risk.

The Government has shown commitment to digital safety. Let’s work together to ensure the success of Smart Nation in both technological achievements and the well-being of all.

Joseph Khoo