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.

image_advices
  • 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 to 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.

How to protect yourself

  • 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

RELATED SCAM STORIES

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13 Mar 2019

Online friend suggested that invest in bitcoins

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I lost over $45k to an investment scam

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21 Jan 2019

Caller got irritated when I questioned how she got my details

This lady from Smart Finance (said she is from a finance company,the background was very noisy, should be this name) called me asking if I will want to earn extra income. I asked where she got my number…...

18 Jan 2019

Red Flag: Caller kept asking me to visit an unknown site

Got a call from this number 31511230 the guy kept annoying me to open up my browser to access these provided site to show me the investment thingy. Sounded like a scam to me. I'm not sure how he got my…...

15 Nov 2018

The perpetrators operate under the name “Asia Pacific Investment Pte Limited”

We write to flag a scam using the name of a Singapore company Asia Pacific Investment Pte Ltd (“APIPL”). The perpetrators operate under the name “Asia Pacific Investment Pte Limited” and have created…...

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