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 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

RELATED SCAM STORIES

Showing 6 of 345 Stories
Showing 6 of 30 Stories
29 Apr 2022

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

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

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…...

13 Apr 2022

Online friend turned out to be a scammer

I met him from tantan app. He's profile was verified. We talked a little bit and we moved to Whatsapp to talk better. He showed me himself on video call, which was right. Same person as on the page. About…...

08 Apr 2022

Not all online friends are genuine

Chatted with a guy named lufeng on dating app. moved to telegram and spoke in chinese. he sold story as coming from china, beijing, here to work for uncle, saying he is a reliable man, looking for someone.…...

07 Apr 2022

I fell prey to an investment scam

I knew Justin (jwc) from facebook and he portrayed a luxurious life with strong forex trading. Taking a leap of faith, I opened a trading account and made money at first. He then asked me to pool the…...

Have you encountered a scam?

Share your stories. Help create awareness.
Share Your Story