The Police would like to advise the public to be cautious when they are gratuitously added by unknown persons into communication platform chatgroups or channels (eg Telegram and WhatsApp) purportedly offering special investment or job opportunities. This is a common approach modus operandi exploited by scammers behind investment scams and job scams. Since January 2024, at least 461 victims have fallen prey to such scams, with total losses amounting to at least $6.8 million.
Investment Scams
Victims will be added to chatgroups or channels by investment scammers. To lure victims into believing that the profits are authentic, the chatgroup or channel will feature testimonials from other members claiming to have profited from the various “investment mechanisms”. Tempted by the attractive “opportunities”, victims contacted the scammers and were offered “investment packages”. They were then prompted to provide their personal information to “set up accounts” and instructed to transfer their monies to specified PayNow numbers, bank accounts, or cryptocurrency wallets as part of the “investment”.
As part of “setting up accounts”, scammers may instruct victims to download Virtual Private Network (VPN) applications to access the “investment” websites. These are instead scam websites used to reinforce the deceit.
Before victims receive “earnings” from their “investments”, they were led to transfer increasingly large sums for “fees incurred” for the “investment”. Victims would only realise they had been scammed when they were unable to withdraw their earnings despite the “fees” transferred to the scammers.
Job Scams
Victims will be added to chat groups or channels by scammers promising profitable and easy online jobs. To give the impression that these job offers are authentic, scammers may claim to represent companies such as TikTok or actual online communications/marketing companies. Victims would be given tasks involving the generation of social media traction, such as following/liking/commenting on accounts and/or posts on TikTok or Instagram, liking and subscribing to YouTube channels/videos, liking songs on Spotify, or liking posts on Trip.com. Upon completion of “tasks”, the victims would receive a small commission. After victims were convinced that they could earn more commission, the scammers would introduce more “rewarding tasks”. In some cases, scammers would provide victims with fake employment contracts to reinforce the deception. To perform these tasks, victims had to open accounts on scam job websites and then transfer increasingly large sums of monies to bank accounts or crypto wallets provided by the scammers.
Victims would only realise that they had been scammed when their website account showed a negative account balance and were told to pay additional funds to “upgrade their accounts” or when they were unable to withdraw their “earnings”.
Members of the public are strongly advised to be cautious when added into communication platform chatgroups or channels and proffered dubious investment or job opportunities. They are encouraged to activate the privacy function on their devices which disallows unknown users from adding them into chatgroups on the various communication channels, and adopt the following precautionary measures:
- ADD – Add the ScamShield App to protect yourself from scam calls and SMSes. Set security features (e.g. set up transaction limits for internet banking transactions, enable Two-Factor Authentication (2FA), Multifactor Authentication for banks and e-wallets). Do not send money to anyone whom you do not know or have not met in person before.
- CHECK – Check for scam signs and with official sources (e.g., visit www.scamalert.sg or call the Anti-Scam Helpline at 1800-722-6688). Check with TikTok or the actual online communications/marketing companies if they are offering such job opportunities. Avoid believing claims made by “fellow” investors or workers on these chatgroups or channels of the profits they made from such investment or job opportunities, they are scammers or were paid by the scammers to make those posts.
- TELL – Tell the authorities, family, and friends about scams. Report the scammers or group chat using the in-app reporting function to WhatsApp and Telegram.
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!
Annex A
Investment Scams :
Conversation between the Scammer and Victim ▼
Job Scams:
Conversation between the Scammer and Victim ▼
SINGAPORE POLICE FORCE
14 February 2024 @ 5:02 PM