The Police have arrested a 25-year-old man for his suspected involvement in an investment scam.
On 28 April 2024, the Police received a report stating that a victim was allegedly cheated of about $363,000 after she handed over the monies to the 25-year-old man for investment purposes.
Through follow-up investigations, officers from Clementi Police Division arrested the 25-year-old man on 2 May 2024. His personal mobile device was seized for investigation.
The man will be charged in court on 4 May 2024 with the offence of cheating under Section 420 of the Penal Code 1871. The offence of cheating under Section 420 of the Penal Code 1871 carries an imprisonment term of up to 10 years and a fine.
Members of the public are strongly advised to be cautious when making investment decisions and to adopt the following precautionary measures:
- ADD - ScamShield App and security features (e.g. enable Two-Factor Authentication (2FA), Multifactor Authentication for banks and set up transaction limits for internet banking transactions). Never install software from unverified sources as they may be remote access software allowing others to observe what you do on your device or even take control of it. Additionally, you should never allow others to watch you enter your personal particulars, bank login details, or Singpass ID, passwords and 2FA details such as SMS-One-Time-Password and Singpass app passcode.
- CHECK - for scam signs with official sources or websites. Verify the authenticity of the information by:
- Asking as many questions as needed to understand investment opportunities fully. If the company is unable to answer or avoids answering any questions, be wary;
- Checking on the company, its owners, directors, and management members to assess if investment opportunities are genuine; and
- Confirming the company’s and representatives’ credentials by using available resources, including the Financial Institutions Directory, Register of Representatives, and Investor Alert List on the MAS’ website (www.mas.gov.sg).
- TELL - authorities, family, and friends about scams. Report any fraudulent transactions to your bank immediately!
If you have any information relating to such crimes or are in doubt, please call the Police Hotline at 1800-255-0000, or submit it online at www.police.gov.sg/iwitness. All information will be kept strictly confidential. If you require urgent Police assistance, please dial ‘999’.
For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Helpline at 1800-722-6688. Fighting scams is a community effort. Together, we can ACT Against Scams to safeguard our community!
SINGAPORE POLICE FORCE
03 May 2024 @ 9:00 PM