Investment Scam

WHAT IS AN Investment Scam?

Victims receive messages from people claiming to be stockbrokers or bank or financial company employees on social networking sites like Facebook, WeChat or Line. Responding to these messages leaves you vulnerable to an Investment Scam where fraudsters ask for personal details like NRIC and passport numbers, supposedly for an investment form. Scammers then ask victims to transfer money to banks in Hong Kong and China, pay administrative fees, security fees and taxes in order to receive the profits and returns.

Victims also receive phone calls from people claiming to be from the Hong Kong Monetary Authority or Hong Kong Overseas Control Centre, asking for a deposit before profits can be released to them.

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OF CASES REPORTED
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$

WORTH OF MONEY LOST
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  • Online trading, particularly when they involve binary options. Binary options are attractive because they are simple and promise quick returns, but they are very risky. Many platforms offering binary trading options are fraudulent.
  • People offering investment returns that are unreasonably high.
  • Be cautious when befriending strangers on social media platforms.
  • Understand that investments with high returns come with high risks.
  • Always check with a licensed financial advisor before making any investment.
  • Check if an entity is blacklisted on

What you should look out for

  • Online trading, particularly when they involve binary options. Binary options are attractive because they are simple and promise quick returns, but they are very risky. Many platforms offering binary trading options are fraudulent.
  • People offering investment returns that are unreasonably high.

What you should do

  • Be cautious when befriending strangers on social media platforms.
  • Understand that investments with high returns come with high risks.
  • Always check with a licensed financial advisor before making any investment.
  • Check if an entity is blacklisted on

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Showing 6 of 285 Stories
Showing 6 of 30 Stories
31 Mar 2021

Online "friend" kept asking me to invest in crypto

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I lost $33k to investment scam

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04 Jan 2021

Don't trust blindly!

I met this guy at okcupid Told me his name is ray(fake name anyway) Asked me my occupation where do I stay (background and financial Check for potential prey) Asked me for number to shift conversation…...

26 Dec 2020

Beware of scammers online!

I get to know this guy from Cmb. We chatted in WhatsApp for around 3 weeks. Even though we never meet out but he confessed his love for me. I pushed him to meet out( he is in singapore) but he will always…...

18 Dec 2020

New online friend turned out to be a scammer

Got to know this guy through cmb and thereafter we moved on to whatsapp. Eventually he start to introduce an investment app that you've to install via a 3rd party link which it doesn't look legit. Hence…...

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