Police Warn of Scams Involving Investment Apps Selling Fraudulent Investment Products

Police warn of scams involving investment apps selling fraudulent investment products

Since Oct, there have been at least 20 cases of scams involving these apps with at least $1.7m in losses. Read more at straitstimes.com.

$1.7m lost to fake investment products on shell apps since October

The police are warning members of the public that scammers are using shell investment applications to sell fake products.In a statement on Tuesday (Dec 9), the police revealed that there have been at least 20 reported cases of such scams since October 2025, with losses totalling at least $1.7 million.In this fraud variant, scammers put up social media advertisements for...