FAKE ONLINE ARTICLES ON CRYPTOCURRENCY
The police also warned against fake online articles that promote cryptocurrency auto-trading programs.
Such articles tend to feature Singapore politicians such as Senior Minister Tharman Shanmugaratnam and Speaker of Parliament Tan Chuan-jin, the police said.
In these articles, claims would be made that both politicians “endorse algorithmic cryptocurrency auto-trading programs, such as Immediate Edge, claiming that such programs generate massive profits”.
These endorsements are untrue, the police added.
“The online articles portrayed the investments as highly lucrative and almost risk-free,” said the police, adding that the articles are usually paid online advertisements that act as clickbait.
When someone clicks on a link within the article, they will eventually be taken to a different website, offering investments through the trading of cryptocurrency or other financial products.
Those who provided their contact details on the website would usually receive a call from someone from the scheme, who would pressure the victims to invest.
Members of the public were advised to follow crime prevention measures such as asking questions to understand investment opportunities and confirm the credentials of the company and its representatives.
In June, the police issued a similar advisory on fake online articles claiming that Prime Minister Lee Hsien Loong purportedly endorsed cryptocurrency auto-trading programs.
More information on scams is available on the Scam Alert website or via the Anti-Scam Hotline at 1800-722-6688.
Those with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online.