Scam Alert / Anti Fraud
Don’t Panic. Don’t Believe. Don’t Give – scamalert.sg
WHAT IS AN IMPERSONATION SCAM?
There are several variations of this scam. One involves a phone call from someone purporting to be a government official, such as a police officer, immigration officer or court official.
In another variation, the caller might claim to be an employee or representative of a Chinese bank or courier company. The caller might claim that your identity was used to send parcels containing fake passports or weapons, or to apply for overseas credit cards. They then refer you to another caller claiming to be a Chinese official, who will ask — or even threaten — you to give them personal information such as your passport or bank account number, internet banking credentials or One-Time Password (OTP).
WHAT TO LOOK OUT FOR
- Unsolicited calls, especially robocalls, from people claiming to be officials, staff of courier companies, banks or telcos, that ask you for money or personal information. Know that no government agency would request for personal and banking details or fund transfer over the phone, through robocalls or
HOW TO PROTECT YOURSELF
- Do not heed the caller’s instructions. Note that scammers may threaten or tell you not to talk to anyone about your situation in order to deter you from verifying if it is a scam.
- Do not give bank details, credit card numbers, OTP
WHAT IS AN INTERNET LOVE SCAM?
After befriending an attractive person (who is usually foreign) online, he or she tells a tale about falling into trouble or hard times. The scammer persists with the story to gain their victim’s trust and adoration, then asks for money as proof of love. Once the money is transferred, the scammer disappears.
WHAT TO LOOK OUT FOR
- Strangers you befriend online. Know the tell-tale signs of a fake dating profile: poor grammar that doesn’t fit with their stated level of education or a fake photo sourced from the internet are just some of the warning signs.
- People who shower you
HOW TO PROTECT YOURSELF
- Do not respond to any requests for money, even if they sound desperate or troubled.
- Do not send money to people you do not know well, especially if you have never met in person.
- Meet all requests for money with
WHAT IS A LINE/FACEBOOK SCAM?
Scammers hack into your Facebook or Line account and use your identity to ask contacts to buy iTunes or other gift cards for them. Conversely, you might be asked by a friend to buy the cards urgently.
WHAT TO LOOK OUT FOR
- You have trouble logging into your account
- Your phone data bill is larger than usual
HOW TO PROTECT YOURSELF
- Never agree to an unexpected request from a friend without calling them first to verify if they want you to buy the gift card
- Be extra careful with dealings over mobile message platforms like Facebook Messenger, WhatsApp, Skype or Line
ANTI MONEY LAUNDERING AND ANTI FRAUD
BKK Forex is a reliable and trustworthy remittance and currency exchange company fully licensed by Monetary Authority Singapore (MAS). Our aim is to continue providing transparent and legitimate services while shunning against illegal money transfers. As a matter of fact, we take anti-money laundering and fraud issues seriously and are against any fraudulent related activities.
At BKK Forex, our customers mean a lot to us. We are well aware of the fact that they have worked so hard for their money. Thus, we are continuously stepping up our efforts to fight money laundering and consumer fraud. We work together with the concerned security authorities to safeguard the funds and interest of our customers.
In addition, we are against using remittance services for illegal transactions. Once we discover that the source of a fund is shady, we put an immediate stop to such transactions. We have a comprehensive compliance program internally to help ensure that we are in compliant with all the rules and regulations as laid down by the Monetary Authority Singapore.
Above all, we have the best interest of our customers at heart. Everything within our capabilities will be done to protect the interest of our customers and adhere strictly to the law and regulations. With these, we can create a safe and secure platform free of any fraudulent activities.
SOME TIPS TO SAFEGUARD YOUR INTEREST PROTECT YOURSELF AGAINST POSSIBLE FRAUDS WITH THESE TIPS:
BE WARY WHEN
You are offered a way below normal price purchase for an expensive product. You are informed that you have won a lottery/prize which you don’t remember participating in and you have to pay fees/taxes before collection of your winnings. Someone responding to your ad that they had found your missing pet/item and claiming the shipping/reward offered beforehand.
You are offered a low interest load but you must make payment beforehand before the loan amount is given to you. You received a call from someone that your loved one is being kidnapped/ detained or in hospital and asking you for money to be sent to them before they are being released.
YOU MUST
Know the person that you are sending money to. Buy goods and services only from trusted sources Avoid making payment for online purchases via money transfer. Be prudent when transacting with someone for expensive items in a foreign country. Immediately stop any transaction when the buyer/seller coaches you on ways to respond to queries made by BKK. It is a confirmed sign of fraud. Contact the police instantly if you suspect that you are being swindled.
BEAR IN MIND
BKK FOREX is always a great way to send money to whom you trust, not to someone that you do not know. Attempting to send money with a fictitious name will NOT ensure your interests when dealing with strangers. When something is too good to be true, it probably is. And for more information, please go to the MAS moneysense website.
Some Tips from MAS
• Choose your remittance agents carefully. Do shop around and be wary of special rates offered.
• Find out how your money will be remitted, including the overseas agents they will be using. Consider both cost (including the commission and exchange rate) and reliability of the bank/remittance agent and the overseas bank/agent.
• Choose remittance agents that have installed adequate security systems (e.g. CCTVs) to provide a secure and safe environment for you to remit your money.
• Bring your personal identification documents for verification purposes.
• Make sure you obtain a proper receipt as proof of transaction in case of dispute. The receipt should include the following information:
-Business particulars of licensed remittance agent
-Date of transaction, amount remitted, exchange rate, commission and other charges
-Your particulars and contact details
-Your beneficiary’s particulars and bank account details, where applicable
• Ask your remittance agent about the recourse available to you, if your beneficiary does not receive your remittance.
• Contact your beneficiary to ensure he has received the money. Check with your remittance agent if there is a delay. Your remittance agent is also expected to contact you for further instructions if the remittance does not reach the beneficiary within 7 days.
• Although remittance agents are required to be licensed, such licensing does not guarantee their performance. Customers take the risk of any loss suffered in dealing with them. Cases involving fraud should be reported to the police.
Credit: MAS Website