Investment Scam

Investment Scam

As of December 2021

2476

victims

Have fallen prey to scammers

S$190.9

million

Total amount lost to scammers

S$6.4

million

Largest amount lost by an individual

WHAT IS AN INVESTMENT SCAM?

You receive a message from someoneclaiming to be stockbrokers or bank or financial company employees on social networking sites like Facebook, WeChat or Line. They ask you to share personal details like NRIC and passport numbers for an investment form. You are then asked to transfer money to banks in Hong Kong and China, pay hefty administrative and security fees, and taxes in order to receive the profits and returns.

You may 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.

In other cases, you may be asked by an online friend to invest in cryptocurrencies, which are highly volatile and unregulated in Singapore.

Look out for these scam signs

How to stay safe

Always check with a licensed financial advisor before making any investments, or do a thorough check on the company and its representatives using resources such as the Financial Institution's Directory, Register or Representatives, and Investor Alert List, which can be found on the MAS website (www.mas.gov.sg).
When investing, always understand what you're investing in. High returns come with high risks.

Please note that when dealing with unregulated entities, you will have little recourse if things go wrong. If an entity is based outside of Singapore, check if it is regulated with the respective overseas authority.
Never provide your name, identification number, passport details, contact details, bank account or credit card details to anyone you do not know well.
Be wary of befriending strangers on social media platforms who promises to make you rich.

Investment Scam: Real Stories

29 Apr 2022 | Investment Scam

Fake "CNA" website attempted to promote crypto investments using "PM Lee"

I came across this fake website using PM Lee's name fraudulently to lure investors.  https://ajouny.com/sg_cnc/?a=lee_hsien_loong&p=Ethereum_Code&header=logo&sxid=49tyhabwic47&ttorigin=49tyhabwic47  […...

28 Apr 2022 | Investment Scam

Beware of fake websites promoting cryptocurrencies

Would like to bring to attention to authority on the infringement use of Channel News Asia profile to solicit investment of crypto currency. https://ajouny.com/sg_cnc/?a=lee_hsien_loong&p=Ethereum_Code&header=logo&sxid=49tyhabwic47&ttorigin=49tyhabwic47…...

28 Apr 2022 | Investment Scam

Beware of Telegram groups that misused the "GIC" name

a group of scammers on telegram creating fake investments for "gic". i have checked with gic and they have no such investment schemes (check out gic official website). @Gic_singaporea @gicinvestment @gicinvestmentsingapore00…...

GET SCAM-RELATED ADVICE: CALL 1800-722-6688 (Mon-Fri 9am-5pm, excl. PH)
GET SCAM-RELATED ADVICE:
CALL 1800-722-6688
(Mon-Fri 9am-5pm, excl. PH)
Scamshield

Get Scamshield
Protection

ScamShield blocks messages and calls from numbers known to be used in illegal activities.

Mac App Store

Find out more at scamshield.org.sg.

Top 5 Scams: Spot The Signs