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

18 Oct 2022 | Investment Scam

New friend whom I met online turned out to be a scammer

Met this person on the bumble app and he was a verified profile. We chatted on Telegram for a while. we even spoke over the phone through telegram call. He spoke about how he was cheated by his ex 4 years…...

15 Sep 2022 | Investment Scam

Online 'friend' turned abusive when I didn't want to invest

Met a Chinese guy, named peter lee (ig handle:, now changed to szp_ytek, mobile: 8544 1497) on Instagram and we switched to WhatsApp to chat. We have a mutual follower who happened to be…...

04 Sep 2022 | Investment Scam

I lost over $3k to an Investment scam

I came across this FB profile named Ginny Qi, she claimed to be the top ten crypto trader, and also shows herself as a very helpful person. I added her as my friend in Fb, she told me that I could invest…...

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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