Investment Scam

Investment Scam

As of December 2022



Have fallen prey to scammers



Total amount lost to scammers


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

27 Mar 2024 | Investment Scam

Always check the legitimacy of a scheme before investing

It was randomly sent as a Whatsapp message with wordings "High fixed deposit interest rate at 4.38% for 6 months" - this is significantly higher than the market. The contact claimed to be from "UOB" bank,…...

24 Mar 2024 | Investment Scam

I lost over $90k to an Internet Love scam

I met Lee on CMB in January 2024. After chatting for over 10 days on the platform, he asked for my WhatsApp to continue our conversation. He mentioned being born in Shanghai but becoming a Singaporean…...

17 Mar 2024 | Investment Scam

Beware of Internet Love scams

Met Oscar on the Cmb app, and he promptly suggested continuing our conversation on WhatsApp or Telegram. He mentioned residing in a condo in Upper Thomson and recently achieving a milestone by acquiring…...

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

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