Police warn public of scammers claiming to be from GIC offering 'lucrative' investment deals

SINGAPORE — The police have warned the public of an investment scam where fraudsters impersonate representatives of Singapore’s sovereign wealth fund GIC, and offer"lucrative" investment deals.

“To reinforce the ruse, scammers would utilise the GIC logo and claim to be investors who have successfully withdrawn the profits made from their investment packages,” said the police. Victims typically realise they have been scammed only when they do not receive the expected returns or were unable to withdraw their investments, said the police.

Said the police: “Adopt a mindset of healthy scepticism. More often than not, if it’s too good to be true, it probably is.”

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