Crime CIB Warn Public of 4 Common Online Investment Scams

[Georgealbert]

 

Picture courtesy of CIB.

 

The Central Investigation Bureau (CIB) has issued a public alert, warning citizens to be wary of four common scams currently circulating online. These fraudulent schemes are increasingly used by cybercriminals to lure victims into fake investment opportunities, often resulting in significant financial losses.

 

The CIB, in cooperation with the Securities and Exchange Commission (SEC), is urging the public to remain vigilant and avoid falling for too-good-to-be-true offers. Below are the four major scam types identified:

 

1. Cryptocurrency Investment Scams

 

Scammers often pose as cryptocurrency experts, financial advisers or representatives from well-known trading platforms.

They claim to have access to insider information or “secret trading strategies” and may display fake screenshots of impressive profits to convince victims to invest.

 

Once trust is gained and money is transferred, the fraudsters vanish.

 

2. Romance Scams

 

These fraudsters use attractive profile photos and fabricate emotional or inspirational backstories to gain trust over weeks or even months.

 

Once a strong emotional connection is formed, they request money for fabricated emergencies, such as medical bills, flight tickets or joint investments.

 

Once funds are sent, the scammers disappear, and the victim often never meets them in person.

 

3. General Investment Scams

 

Similar to crypto scams but involving other fake assets, such as bogus stocks, real estate, gold or non-existent projects.

 

These schemes promise unusually high returns with minimal risk.

Some fraudsters set up fake LINE groups, use accomplices to pose as successful investors or hold online seminars to appear legitimate.

 

4. Celebrity Impersonation Scams

 

These scams use photos or videos of well-known actors, entrepreneurs or financial figures to create fake profiles, pages, or advertisements.

 

The aim is to boost credibility and deceive victims into investing through imitation of a trusted public figure.

 

How to Protect Yourself from Online Investment Scams

 

The CIB and SEC advise taking the following precautions:

 

• Verify before investing: Always research the company, platform or individual offering the investment. Use official SEC databases to confirm registration and legitimacy.

 

• Be sceptical of unrealistic returns: Offers promising high profits with little or no risk should raise immediate red flags.

 

• Protect personal data: Never share passwords, bank account numbers or OTP codes with anyone.

 

• Avoid advance payments: Never transfer money before receiving verified goods or services, particularly when dealing with new sellers or social media pages.

 

If unsure about any investment, the public can call the SEC’s “Investment Scam Hotline”.

 

Authorities remind the public that cybercriminals are constantly adapting their methods and that awareness is the best defence.

 

“Stay cautious, verify before you trust, and never transfer money on impulse,” a CIB spokesperson advised.

 

  Adapted by Asean Now from CIB 2025-08-04