• Online trading, particularly when they involve binary options. Binary options are attractive because they are simple and promise quick returns, but they are very risky. Many platforms offering binary trading options are fraudulent.
• People offering investment returns that are unreasonably high.
• Unfamiliar financial entities based outside of Singapore.

• Online trading, particularly when they involve binary options. Binary options are attractive because they are simple and promise quick returns, but they are very risky. Many platforms offering binary trading options are fraudulent.
• People offering investment returns that are unreasonably high.

• Be cautious when befriending strangers on social media platforms.
• Understand that investments with high returns come with high risks.
• Always check with a licensed financial advisor before making any investment.
• Check if an entity is blacklisted on the Monetary Authority of Singapore (MAS) Investor Alert List. Deal with companies that are licensed and regulated by MAS.
• Ask as many questions as you need to fully understand the investment opportunity.
• Do a thorough check on the company and its representatives using resources such as the financial institution's directory, register or representatives, and investor alert list, which can be found on the MAS website (www.mas.gov.sg).
• Never provide your name, identification number, passport details, contact details, bank account or credit card details to anyone you do not know well.
• Be careful when dealing with unregulated entities as you will have little recourse if things go wrong. If an entity is based outside of Singapore, check if it is regulated with the respective overseas authority.
• Before committing to an investment, always Ask, Check and Confirm.

Additional Resources

More information on investment scams can be found at MoneySense: How to spot investment scams

• Be cautious when befriending strangers on social media platforms.
• Understand that investments with high returns come with high risks.
• Always check with a licensed financial advisor before making any investment.
• Check if an entity is blacklisted on