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

07 Jun 2023 | Investment Scam

I lost over $80,000 to an Internet Love scam

I met Joshua Tan (Chen Yi Da, DOB: 28/10/1990) on CMB app this year. We then moved the conversation to WhatsApp, and he sent me a video deleting the dating apps to prove he was looking for a serious relationship…...

02 Jun 2023 | Investment Scam

Don't invest blindly

I met a guy named Matt on Bumble in Singapore. He claimed to be a 34-year-old Taiwanese working in Singapore and looking for a partner to settle down with. After two days of chatting, we moved our conversations…...

10 May 2023 | Investment Scam

I lost over $90k to an Internet Love scam

On March 24th, I encountered a person named Joshua Tan on the Coffee Meet Bagel dating app. We switched our conversation to WhatsApp, where he sent me a video of him deleting the dating app, expressing…...

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

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