Advisory: Beware of Fake Investment Platforms Like 'Velo Trust' and 'Hotorders'

velotrust-exchanges.com
hotorders.org

The Singapore Police Force (SPF) has observed a trend of investment scams involving fraudulent websites, such as those impersonating 'Velo Trust' and 'Hotorders'. These scam sites are designed to appear as legitimate financial platforms, enticing individuals with promises of high returns on investments.

How to recognise such scams:

• Be wary of unsolicited messages, online advertisements, or social media posts promoting investment opportunities that promise unusually high or guaranteed returns with little to no risk.
• Always verify the legitimacy of any investment platform, company, or scheme through official sources. Check the Monetary Authority of Singapore's (MAS) Financial Institutions Directory or Investor Alert List.

What to do if you encounter such scams or have fallen victim:

If you have encountered these scams or suspect you might have been affected, remember that I can ACT against scams:

• Add security features: Enable Two-Factor Authentication (2FA) for all your online accounts and install ScamShield to block scam calls and SMSes.
• Check for scam signs: Always verify information from official sources. Do not click on suspicious links, download unknown files, or provide personal details.
• Tell authorities, family and friends: Report the scam to the police immediately. Inform your bank to block any unauthorised transactions.

If you have provided your banking details or Singpass information, change your passwords immediately and notify your bank to monitor your accounts for any suspicious activity.

Unsure if something is a scam? Check by calling the 24/7 ScamShield Helpline at 1799.