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At least $25.5 million lost to investment scams since June

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At least 498 people have lost no less than $25.5 million to investment scams since June this year. The police said on Wednesday that the victims were duped into parting with their money for “investments” in cryptocurrencies and stocks among others. They had...

To convince them that their “investments” were legitimate, the victims would receive small profits initially.

In the second approach, the victims either searched online for investment opportunities or came across advertisements on social media. In other instances, victims would receive phone calls or messages from the scammers posing as staff from investment companies or brokers. Scammers would pretend to be staff from investment companies or brokers to trick their victims. PHOTOS: SINGAPORE POLICE FORCE

 

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At least $25.5 million lost to investment scams since JuneSINGAPORE – At least 498 people have lost no less than $25.5 million to investment scams since June this year. Read more at straitstimes.com.
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