Investment Scam

Investment Scam

As of December 2021



Have fallen prey to scammers



Total amount lost to scammers



Largest amount lost by an individual


You receive a message from someone claiming 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 (
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

08 Jan 2023 | Investment Scam

Online friend turned out to a scammer attempting to trick me into investing

Met this guy from cmb and he ask to change to whatsapp and telling you he very sincere to know you. Then will do a video record of him delete cmb app. He will chat and take photo of his food etc, call…...

07 Jan 2023 | Investment Scam

Online friend who offered an investment scheme turned out to be a scammer

Using dating app, Li, he looks real in looking for relationships then after moving our conversation to whatapp chat. After chatting for days, he started to tell what he working as and there where the…...

20 Dec 2022 | Investment Scam

Beware of fake investment articles!

Came across a fake CNA article on investment opportunity promoted by Jet Li utilising AI promising good returns and low investment amount of USD250 dollars. Signed up at immediate edge link that directs…...

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CALL 1800-722-6688
(Mon-Fri 9am-5pm, excl. PH)

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