9th March 2023

Scammers targets everyone and takes advantage of people when they are vulnerable. Individuals of all backgrounds, ages, education and income levels across the nation are becoming victim of scams.

Scammers are becoming increasingly sophisticated with their tactics and are constantly looking for new ways to prey unsuspecting and vulnerable individuals. They are using various online and offline mediums to reach out to the members of the public and are capitalising on new technology to create schemes that are attractive and “irresistible”. Many schemes come disguised as different types of business opportunities such as investment schemes for various types of products or services, designed to swindle your hard-earned money.

 Members of public are encouraged to be more vigilant when making investment decision. Always remember not to fall into the following promises:

1. “Guaranteed Returns/Profits”

• Every investment carries some degree of risk, which is reflected in the rate of return you can expect to receive. If your money is perfectly safe, you’ll most likely get a low return. 
• Most scam schemes spend a lot of time trying to convince investors that extremely high returns are “guaranteed” or “can’t miss it”. They try to plant an image in your head of what your life will be like when you are rich. Don’t believe it.

• Be careful of claims made by the scammers that you’ll receive substantial high profits/returns. Claims like this are hallmarks of extreme risk or outright fraud.