Advisory: Beware of Fake Investment Schemes Impersonating 'Nova Quant'

novaxmr.xyz

The Singapore Police Force (SPF) observes a trend of fake investment schemes, including those impersonating "Nova Quant", luring individuals with promises of high returns. These scams often direct victims to fraudulent websites, such as novaxmr.xyz, to trick them into transferring money.

Here's how to recognise such scams:

• Be cautious of unsolicited messages or online advertisements promoting investment opportunities that promise exceptionally high returns with little to no risk.
• Scammers may use names like "Nova Quant" and direct you to unfamiliar websites for registration or investment, which are not legitimate financial platforms.

If you suspect you have fallen victim to this scam:

• Stop all communication with the scammers immediately and do not transfer any more money.
• Report the incident to the police.
• Inform your bank about any transactions made to the scam account to see if any funds can be recovered.
• Change your account passwords if you have provided them on the fake website.

Remember, legitimate investments come with risks and rarely promise guaranteed high returns. Always verify the legitimacy of any investment opportunity with official sources before committing funds.

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