A 64-year-old Singaporean engineer only realised he had been scammed when he could not withdraw the profits shown in the investment application.
The victim chanced upon an investment advertisement on Facebook while in Singapore in December 2023 and clicked on the link for further information. Commissioner Kumar said the victim was lured by the potential profits and followed the scammer’s instructions to download an application for registration purposes. In addition, the app was supposedly used to monitor his investment’s status and gains.
Additionally, he was asked to make further payments, including taxes, to recover his invested capital, while efforts to contact the scammer failed.
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