Investment Scams in Singapore: S$336.2M Lost in 2025

Investment scams are the costliest scam type in Singapore. In 2025, victims lost a staggering S$336.2 million to investment fraud, with crypto scams alone accounting for S$182.2 million. One single victim lost S$125 million through a malware-enabled crypto scam.

This guide explains how to identify investment scams, use MAS regulatory tools, and protect your money.

The Scale of the Problem

Category	2025 Losses
Crypto scams	S$182.2M
Other investment scams	S$154.0M
Total investment scam losses	S$336.2M
Largest single victim loss	S$125M

Common Types of Investment Scams

1. Fake Crypto Trading Platforms

Scammers create professional-looking websites that mimic legitimate exchanges. They show fake profits on your dashboard to encourage more deposits. When you try to withdraw, the platform freezes your account or demands additional "fees."

2. Forex Scams

Promises of guaranteed returns through forex trading. Often uses fake trading software that shows manipulated results.

3. "Guaranteed Returns" Schemes

Any scheme promising high returns (over 10% annually) with "no risk" is almost certainly fraudulent. Legitimate investments always carry risk.

4. AI Trading Bot Scams

Claims of artificial intelligence that generates automatic profits. The "bot" either does not exist or is programmed to show fake returns.

5. Impersonation of Licensed Financial Advisors

Scammers pose as representatives of legitimate financial institutions, using their brand names and logos to appear credible.

How to Use MAS Regulatory Tools

MAS Investor Alert List (IAL)

The Monetary Authority of Singapore maintains a publicly searchable Investor Alert List of unregulated entities that may have been wrongly perceived as regulated by MAS.

How to check:

1. Visit the MAS website
2. Search for the entity or individual by name
3. If the entity appears on the IAL, do not invest

MAS Financial Institutions Directory (FID)

To verify if a financial advisor or platform is legitimately regulated:

1. Visit the MAS Financial Institutions Directory
2. Search for the company name
3. Confirm their license type and status
4. Verify the representative's name if applicable

Key Regulations

Regulation	What It Covers
Securities and Futures Act	All capital markets services must be licensed
Payment Services Act	Crypto service providers must be licensed
Financial Advisers Act	Financial advice must come from licensed advisors

Red Flags Checklist

• Guaranteed high returns — More than 10% annually with "no risk"
• Pressure to invest quickly — "Limited time offer" or "exclusive opportunity"
• Unregulated platform — Not listed on MAS FID
• Transfer to overseas account — Money sent to foreign accounts is nearly impossible to recover
• "Insider information" — Claims of exclusive market knowledge
• Complex or vague strategy — Cannot clearly explain how returns are generated
• Referral bonuses — Encouraging you to recruit others (pyramid structure)
• Difficulty withdrawing — Always an excuse when you try to take money out

How to Protect Yourself

Before Investing

1. Check MAS IAL — Search the entity on the Investor Alert List
2. Verify on MAS FID — Confirm the platform or advisor is licensed
3. Research independently — Do not rely on information provided by the person selling the investment
4. Be skeptical of social media recommendations — Investment tips from influencers or group chats are often scams
5. Consult a licensed financial advisor — Get independent professional advice

When Sharing Investment Information

Before sharing investment opportunities with friends or family, verify the legitimacy first. If you want to share verified investment information securely, use LOCK.PUB to create a password-protected link. This ensures only the intended recipient can access the information and prevents scam links from being forwarded indiscriminately.

What to Do If You Have Been Scammed

Step	Action
1	Stop all transactions with the platform immediately
2	Do not deposit any more money
3	Document everything: screenshots, transaction records, communications
4	File a police report with SPF
5	Report to MAS
6	Report via ScamShield app
7	Contact your bank to attempt fund recovery

Reporting Channels

Authority	What to Report
Singapore Police Force (SPF)	Financial crime, fraud
Monetary Authority of Singapore (MAS)	Unregulated financial activities
ScamShield	Scam reports and phone numbers

Key Takeaways

• Investment scams are the most financially devastating scam type in Singapore
• Always check the MAS Investor Alert List before investing with any entity
• Verify that financial service providers are licensed through the MAS Financial Institutions Directory
• No legitimate investment guarantees high returns with zero risk
• If it sounds too good to be true, it is
• Share verified investment information through secure channels like LOCK.PUB — do not forward unverified investment links in group chats
• Report suspicious investment offers to SPF, MAS, and ScamShield