⚠️Scammers may use platforms, such as SMS, email, social media, WhatsApp, Telegram, and Viber to contact you, posing as legitimate companies. They may trick you into clicking on a phishing link, ask for your personal information and passwords, and try to convince you to invest in a trending stock. Always verify their details before sharing any information.
Over the last week, scammers have been attempting to impersonate our CTO and co-founder, Nino Ulsamer.
The impersonators appear to be mass inviting individuals at random into Viber and WhatsApp group chats, using Nino’s name and linking to the StashAway website.
The impersonators appear to be encouraging individuals to invest in a stock, promising high returns.
A screenshot from one of the threads
An investment scam is a fake investment opportunity that scammers use to entice individuals to invest in. The scammers usually promise lucrative but unrealistic returns. Often, these scammers claim to be from reputable financial institutions to gain your trust.
Be aware if you receive a call from an unknown number or if you've been added to a group chat where you don't recognise the person who has added you.
Scammers often promise unbelievably high returns to lure potential investors. If the return is too good to be true, it probably isn't true.
Keep an eye out for "limited time only" offers. Scammers often try to create a sense of urgency to rush you into committing your money, and may use time-limited deals, gifts, and rebates to trick you.
Scammers often try to gain trust by faking their track records and experience. For example, they may use fake profiles, claim to be regulated by industry bodies, and share fake reviews of their product or company.
Legitimate investment firms will have checks and balances to ensure professional standards. Keep a lookout for spelling mistakes, emails originating from public domains (such as Gmail), and suspicious links and attachments.
If you think an investment scammer might have contacted you, make sure you do your due diligence and understand the details of the product or offer before committing.
Don't share personal information or click on any links until you verify who is contacting you.
Ask as many questions as you need to, and be cautious if the firm isn't able to answer any of your questions or tries to avoid them.
Check that the information given about the company is correct, such as its phone number, address, business registration number, and management team.
If you suspect the company is fraudulent, check directly with the company in question. Some companies will also have a dedicated scam reporting hotline to help you verify possible investment scams.
If you suspect a scammer on WhatsApp, Viber, or SMS, block their number and report it.
Check if the firm is regulated by the Monetary Authority of Singapore (MAS). The MAS provides a list of financial institutions that are regulated to provide financial services through its Financial Institutions Directory.
We'll only ever contact you via our verified channels, including WhatsApp and our number, +65 9877 0801. You can always check our website for our verified social media accounts. And, we'll never ask you for your login details or passwords. If you're ever in doubt, just check in with us!
You can always check that it's us on WhatsApp by looking for WhatsApp's green badge icon next to our contact name, StashAway. You'll also see a notification saying: 'This chat is with the official business account of "StashAway". Tap to learn more.' The green badge icon and notification indicate that the account belongs to our verified official WhatsApp number.