Are you receiving exclusive, time-sensitive
invitations for investments that promise
significant returns with little or no risk? Or
quick and easy ways to make lots of money?
These are some common ways that fraudsters use
to trick you into buying into their highly
appealing 'investments'.
When things seem too good to be
true, they usually are — stay alert
to possible scams and avoid being
tricked by a scammer.
Common tactics of investment scams:
Seminars: Fake
promotional events
are hosted by scammers to lure
targets with attractive investment
opportunities in non-existent
products/services/schemes.
Crypto currency
scams: Scammers may
set up fake platforms for you to
enter your details or offer to trade
on your behalf, very often
disappearing soon after that.
Ponzi schemes:
Investment scams that
pay existing investors with money
collected from
new investors (like you).
False
endorsements: Schemes
that
capitalise on celebrities for false
validation of their products.
Equity trading and hot
tips:
Spreading false
'insider information'
to lure you into
buying stocks.
Signs of an investment scam and how to protect
yourself:
Promise of high returns at low or no
risk, tax free - Be wary of such
opportunities and remember, no
investment is risk free
Unsolicited contact and advice - Do
not engage or share personal
information with someone you don't
know in order to get investment
advice
High pressure tactics such as
limited time offer or free gifts and
incentives - Ensure you fully
understand what you are buying into
and not making impulsive financial
decisions
Commissions when brokers/agents
introduce new clients to fraudulent
schemes - Legitimate investment
schemes do not offer such
commission, these are tactics to
enlarge their
client base
Lack of information on the
investment product/scheme - Always
do your own research or speak to
a certified financial advisor
If you have been defrauded, contact the relevant
authorities, change your passwords and
credentials. Continue to monitor your banking
account and take necessary actions to avoid any
further
losses. For more fraud prevention tips,
visit sc.com/fightingfraud/myaccount
. To report a fraud, please call 18002586465
/ 18001024734.
Do not share your
internet banking details, such as user ID/password or your
credit/debit card number/CVV/OTP/TPIN with anyone — either
over phone or through
email. To know more, click here.
