Beware of fake investment platforms like ‘Velo Trust’ and ‘Hothorders’
The Singapore Police Force (SPF) has observed a trend of investment scams involving fraudulent websites, such as those impersonating 'Velo Trust' and 'Hotorders'.
These scam sites are designed to appear as legitimate financial platforms, enticing individuals with promises of high returns on investments.
HOW TO RECOGNISE SUCH SCAMS:
Be wary of unsolicited messages, online advertisements, or social media posts promoting investment opportunities that promise unusually high or guaranteed returns with little to no risk.
Always verify the legitimacy of any investment platform, company, or scheme through official sources. Check the Monetary Authority of Singapore's (MAS) Financial Institutions Directory or Investor Alert List.
Tips to protect yourself:
Never provide your banking log-in details to anyone.
Report any fraudulent transactions to your bank immediately.
Report any suspicious users to the online marketplace platform.
Unsure if something is a scam? Check by calling the 24/7 ScamShield Helpline at 1799.
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