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The Police would like to alert members of the public to be vigilant against investment scams, where victims were invited to join chat groups claiming to offer opportunities to learn investing for free. Since May 2026, at least 48 cases were reported, with total losses amounting to at least $3.6 million.

In this scam variant, scammers would lure victims using fake social media advertisements that offered opportunities to learn investing for free. Victims who were interested in the “offer” would be invited into a WhatsApp chat group. Posing as "mentors", the scammers would provide "investment advice" or "bonuses" to entice victims to start “investing”, while other “members” would share screenshots of purported trading profits. 

To start “investing”, victims would be instructed to create investment accounts through fraudulent investment websites or by downloading fraudulent applications from the Apple App Store or Google Play Store. Victims would then be asked to transfer money to specified bank accounts. In some cases, victims were instructed to hand over cash or gold to unknown persons posing as staff from the investment company, who would provide victims with “invoices” upon receipt of the valuables. To further deceive victims into investing more money, scammers would sometimes provide initial returns to create a false sense of legitimacy. Victims only realised they had been scammed when they were unable to withdraw their “profits” or when the scammers became uncontactable. 

Members of the public are strongly advised to never transfer or hand over money or other valuables to any unknown persons whose identities you have not verified. Always be cautious when making investment decisions and adopt the following precautionary measures: 

1. ADD – security features (e.g., activate the privacy function on your device to disallow unknown users from adding you into chat groups). For more information on WhatsApp’s security features, visit https://www.whatsapp.com/security.
   
   
2. CHECK – scam signs with official sources (e.g., ScamShield app or ScamShield website at www.scamshield.gov.sg). Verify the authenticity of the investment company by: 
   
   • Asking questions to understand the investment opportunities. If the company is unable to answer or avoid answering any questions, be wary;
   
   • Checking on the company, its owners, directors, and management members to assess if the investment opportunities are genuine; 
   
   • Confirming the company’s and representatives’ credentials through the Financial Institutions Directory, Register of Representatives, and Investor Alert List on the Monetary Authority of Singapore (MAS)’s website (www.mas.gov.sg);
   
   • Checking that the downloaded applications are legitimate and available on the official application stores; and
   
   • Checking for user reviews and ratings of applications before downloading them, even if they are believed to be legitimate and are available on official application stores.
   
   
3. TELL – authorities, family, and friends if or when you encounter scams. Report any fraudulent transactions to your bank immediately.

For more information on scams, members of the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799. Fighting scams is a community effort. Together, we can ACT Against Scams to safeguard our community!

Annex A – Examples of Online “Advertisements” 

Annex B - Examples of “Investment” Chat Groups 

Annex C – Example of an “Invoice” Received by the Victims

Annex D - Examples of “Investment” Websites and Applications