WellbeingAAM Spot and stop scams

Spot and stop scams

In these uncertain times, criminals have been using the COVID-19 outbreak to scam members of the public, particularly the most vulnerable.

In the UK, Action Fraud* revealed there had been a massive 400% increase in reporting of scams in March – the majority of which related to online shopping scams, with victims purchasing protective products (such as face masks) that failed to arrive.

Other examples involved phishing (or ‘smishing’), where scammers attempt to trick victims into clicking on a malicious link in an email or text message, and lender loan fraud, whereby victims are offered access to quick cash in return for an upfront fee.

Scams are a rising issue in Singapore too with both IRAS and MHA warning consumers to be vigilant.

Keep safe


  • Reject offers that come out of the blue
  • Don’t click on links from senders you don’t know
  • Be wary of deals that sound too good to be true
  • Never give out personal details
  • Take the time to make checks and seek financial guidance.


Important information

This article is intended for general circulation and information purposes only. It may not be published, circulated, reproduced or distributed in whole or part to any other person without prior consent of AAM. This article should not be construed as an offer, solicitation of an offer, a recommendation or provision of financial advice. The information does not take into account the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a licensed financial adviser before making any decisions.  Whilst we have taken all reasonable care to ensure that the information contained in this article is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness. Any opinion or estimate contained in this article is subject to change without notice. AAM advisory Pte Ltd is licensed by the Monetary Authority of Singapore, FA Licence no 100032.

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