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Private Investigators in Singapore Raise Alert on Scams

Private Investigators in Singapore Raise Alert on Scams

Even though many regions of the world are in a recession, Singapore’s economy is beating expectations and is resurging. Investors are opening offices in the city, and foreigners are purchasing multi-million-dollar residences. The currency is the strongest in Asia this year, and its stock index was the only one in the developed markets to increase in 2022.

However, things aren’t as perfect as they appear on the surface. On one hand, the government must strike a careful balance between satisfying its citizens given the increased cost-of-living and issuing new visas to attract more highly-paid professionals. Growing economic indicators are not always good for everyone, and there can be hidden problems.

What private investigators in Singapore are witnessing is a rapid increase in scams, which frequently comes along with economic growth. Scammers move to places where there’s money, and Singapore is where it’s at right now.

According to a recent article a total of 339 people are under investigation for their alleged involvement as online scammers and money mules in over 1,002 fraud investigations. Among the scams are those involving employment, loans, online dating, phishing, and impersonating government officials, where victims reportedly lost over $14.9 million. News like this make the headlines every day, and sadly people continue to fall victim, including foreigners who are looking for new business and investment opportunities.

Don’t be a victim yourself!

Keep in mind that after winning over the victims’ trust, scammers will request personal information, bank account information, and money transfers from one bank account to another or using cryptocurrency. Online criminals profit in different ways, so don’t discard scam just because there hasn’t been a direct request for cash.

Avoid posting personal information online, whether on social media or dating websites. Never post your last name, address, phone number, or any other identifying information. Privacy is important to remain safe. The more personal information you share online, the easier it is to connect with someone who is attempting to use you as a pawn for fraud.

Also confirm that the people you’ve been speaking with are who they say they are and are genuine. Regardless of the nature of the relationship (personal or business), you will need a professional background check conducted by a local private investigator in Singapore. Having the necessary evidence is the key to making sound decisions, so hiring a professional investigator with local expertise is a wise move.

Contact us if you’ve been dealing with an individual or a company in Singapore!

C. Wright

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