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Investment scams

Learn why you should doubt promises of extraordinary returns

WHAT ARE investment SCAMS?

Investment scams usually involve individuals who claim to represent legitimate businesses or authorities. They promise their targets investment opportunities that guarantee quick money and/or extraordinary returns at little to no risk.

HOW DO investment SCAMS WORK?

General Investment Scams

The approach:

The fraud:

Cryptocurrency Scams

The approach:

The fraud:

Romance Baiting

The approach:

The fraud:

HOW TO AVOID BECOMING A VICTIM OF investment SCAMS
  • Spot the signs

    If something seems good to be true, it almost always is. Any promise of guaranteed returns should be treated as a warning sign.

  • Be sceptical

    Be wary of strangers who contact you out of the blue and individuals who pressure you into acting on their advice or promises to make you rich.

    Never take investment advice from strangers you meet on social media or dating apps. Ignore their unsolicited approaches and advice.

  • Seek advice from an independent professional

    Investment scams can be hard to spot; before you invest, make sure to seek independent legal or financial advice from licensed professionals.

  • Do your research

    Even if you believe you are investing in a reputable company, ask a financial or legal advisor to review any materials they provide beforehand. Scammers often impersonate real companies and may share professional-looking sales materials and websites with you.

    Do a thorough check on the company and its representatives using resources such as the Monetary Authority of Singapore (MAS)’s Financial Institution's Directory, Register of Representatives and the Investor Alert List. You can find these at the MAS website.

    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 relevant overseas authority.

    Do an online search for the company or individual’s name and add the words ‘review’, ‘complaint’ or ‘scam’ to learn about other people’s experiences with them.

  • Do not give in to pressure

    Do not allow yourself to be pressured into making decisions related to investing on the spot. Always take the time to understand what you are investing in and know that high returns come with high risks.

  • Protect your money

    Do not transfer money or digital currencies to anyone you have only met online or into investment opportunities that they introduce to you.

  • Protect your details

    Never provide your personal details (e.g. NRIC, passport details or contact details) or banking information (e.g. account number or credit card details) to anyone you do not know well.

WHAT TO DO IF YOU HAVE BEEN SCAMMED

Call us

If you believe you have fallen prey to such scams and/or your OCBC account details/funds may be or may have been compromised, please call our Personal Banking hotline at 6363 3333 (or +65 6363 3333 if you are overseas) and press 8 to report fraud or temporarily freeze all your accounts and cards.

Contact the Police and file a report

You can file a police report online or in person at a police station

Find out what information you will need to share if you have fallen prey to a scam.

Contact the platforms involved

Report the scammer to the e-commerce platform, social media website or classified ads website that you purchased the product from and/or where the scammer approached you.

Spread the word

Tell others you know of your experience to help educate and protect them. You can also share your stories on social media or anonymously at www.scamalert.sg.
LEARN ABOUT OTHER SCAMS

Money Mules

Learn how criminals prey on the vulnerable and make them money mules

Money Mules

Learn how criminals prey on the vulnerable and make them money mules

Impersonation scams

Uncover impersonators by understanding their tactics of deceit

Impersonation scams

Uncover impersonators by understanding their tactics of deceit

Phishing scams

Learn to spot and avoid one of the most prevalent scams in Singapore

Phishing scams

Learn to spot and avoid one of the most prevalent scams in Singapore