Singapore | Leading financial centre in Asia
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



2025 Summits in Hong Kong & Singapore
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register


This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.











Singapore MAS & Police Issue Warning of Scammers Claiming to be from or Acting on Behalf of Monetary Authority of Singapore with at Least 41 Victims Losing $1.96 Million, Scammers Accused Victims of Involving in Criminal Activities Such as Money Laundering & Fraud, Instruct Victims to Transfer Money to Security Accounts or Request for Information on Banking, Credit Card or One-Time Passwords OTPs

22nd December 2023 | Hong Kong

The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) have jointly issued a warning of scammers claiming to be from or acting on behalf of Monetary Authority of Singapore (MAS) with at least 41 victims losing $1.96 million (S$2.6 million).  Scammers accused victims of being involved criminal activities such as money laundering & fraud, instructing victims to transfer money to security accounts or request for information on banking, credit card or One-Time Passwords OTPs.  Warning: “The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) warns the public on a Government Official Impersonation Scam variant, where scammers purportedly claim to be from, or be acting on behalf of, the MAS. Since January 2023, there have been at least 41 victims, with total losses amounting to at least $2.6 million.  1) Victims would receive unsolicited calls from scammers impersonating bank officers and requesting for verification of banking transactions allegedly conducted by them. When victims denied making such transactions or possessing such bank cards, the scammer would transfer the call to a second scammer claiming to be an officer from the MAS … … Under various pretexts (e.g., investigation, resetting credit card magnetic stripe, processing of “government insurance policy”), scammers would instruct victims to transfer money to “security accounts” – specified bank accounts supposedly designated by SPF, MAS or other authorities, or request for victims’ banking credentials, credit card details, or One-Time Passwords (OTPs).  Victims would realise that they had been scammed when culprits become uncontactable or when they subsequently verify their situation with the banks or with SPF through official channels.  MAS and SPF officers will never ask members of the public to transfer monies, or for the control of their bank accounts or internet banking credentials. Never disclose your internet/mobile banking or credit card details such as bank account user ID, passwords, Personal Identification Numbers (PINs) or OTPs to anyone through phone, email or SMS/messaging applications. Do not allow anyone to access your bank account(s) or Singpass, and do not authorise any authentication request via digital token or OTP if you did not initiate any internet/mobile banking transaction.”  More info below:

“ Singapore MAS & Police Issue Warning of Scammers Claiming to be from or Acting on Behalf of Monetary Authority of Singapore with at Least 41 Victims Losing $1.96 Million, Scammers Accused Victims of Involving in Criminal Activities Such as Money Laundering & Fraud, Instruct Victims to Transfer Money to Security Accounts or Request for Information on Banking, Credit Card or One-Time Passwords OTPs “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2025 Investment Day
Hong Kong | Singapore
March / July / Sept / Oct / Nov

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place in Hong Kong and in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here


The 2025 Family Office Summit
10th April & 16th Oct Hong Kong St Regis | 17th April & 6th Nov Singapore Amara Sanctuary Resort

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2025 Family Office Summit | Register here


2025 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore

Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here


2025 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore

Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit.  Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here





 

Singapore MAS & Police Issue Warning of Scammers Claiming to be from or Acting on Behalf of Monetary Authority of Singapore with at Least 41 Victims Losing $1.96 Million

Singapore | Leading financial centre in Asia

21st December 2023 – The Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) warns the public on a Government Official Impersonation Scam variant, where scammers purportedly claim to be from, or be acting on behalf of, the MAS. Since January 2023, there have been at least 41 victims, with total losses amounting to at least $2.6 million.

The typical modus operandi of the scam is:

a. Victims would receive unsolicited calls from scammers impersonating bank officers and requesting for verification of banking transactions allegedly conducted by them. When victims denied making such transactions or possessing such bank cards, the scammer would transfer the call to a second scammer claiming to be an officer from the MAS.

b. This second scammer would accuse victims of being involved in criminal activities (e.g., money laundering, fraud). Victims may be transferred to a third scammer pretending to be an SPF officer for “further investigation”.

c. Under various pretexts (e.g., investigation, resetting credit card magnetic stripe, processing of “government insurance policy”), scammers would instruct victims to transfer money to “security accounts” – specified bank accounts supposedly designated by SPF, MAS or other authorities, or request for victims’ banking credentials, credit card details, or One-Time Passwords (OTPs).

d. Victims would realise that they had been scammed when culprits become uncontactable or when they subsequently verify their situation with the banks or with SPF through official channels.

MAS and SPF officers will never ask members of the public to transfer monies, or for the control of their bank accounts or internet banking credentials. Never disclose your internet/mobile banking or credit card details such as bank account user ID, passwords, Personal Identification Numbers (PINs) or OTPs to anyone through phone, email or SMS/messaging applications. Do not allow anyone to access your bank account(s) or Singpass, and do not authorise any authentication request via digital token or OTP if you did not initiate any internet/mobile banking transaction.

Members of the public are advised to adopt the following precautionary measures:

  • ADD – ScamShield App and security features (e.g. enable Two-Factor Authentication (2FA), Multifactor Authentication for banks and set up transaction limits for internet banking transactions, including PayNow).
  • CHECK – for scam signs with official sources (e.g. ScamShield WhatsApp bot @ https://go.gov.sg/scamshield-bot , or call the Anti-Scam Helpline on 1800-722-6688, or visit www.scamalert.sg ). Scammers may misuse the names of actual police officers to gain trust from the victims. Be alert to unsolicited messages or calls purporting to be from MAS or banks.
  • TELL authorities, family, and friends about scams, and do not be pressured by the caller to act impulsively. Report the number to WhatsApp and Telegram to initiate in-app blocking and report any fraudulent transactions to your bank immediately.

MAS and SPF also encourage members of the public to use the new feature introduced by DBS, OCBC and UOB to lock up their savings for greater peace of mind and security against unauthorised digital transfers or payments.

Members of the public who suspect that they may be victims of such scams or have any information relating to such scams should call the Police Hotline at 1800-255-0000, or submit it online at www.police.gov.sg/iwitness . All information will be kept strictly confidential. Please call ‘999’ if you require urgent Police assistance.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Manage investmentsManage assetsManage risksFind informationFind servicesFind advisors / expertsFind clientsGrow AUMNetworkingOthers


    $3 m to $20 m$20 m to $300 m$300 m to $1 b$1 b to $10 bMore than $10 bNo AUM. I advise institutions / CEOs / Entrepreneurs / billionaires / UHNWs & HNWsOthers


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementCEO & EntrepreneurOthers


    Mailing List / Free TrialSubscription ($70 monthly / $180 yearly)Subscription June Promo ($20 monthly / $180 yearly)Membership ($60 / $680 / $2,000)


    2025 Investment Day Hong Kong2025 Investment Day Singapore2025 Investment Summit Hong Kong2025 Investment Summit Singapore2025 Family Office Summit Hong Kong2025 Family Office Summit Singapore












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2025 Investment Day

    • March - Hong Kong
    • March - Singapore
    • July - Hong Kong
    • July - Singapore
    • Sept- Hong Kong
    • Sept - Singapore
    • Oct- Hong Kong
    • Nov - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014