Fraud prevention – don't take risk dealing with unlicensed financial operators: Singapore

Singapore is a financial hub.
It has many financial institutions doing different kinds of transactions.

Licensed financial institutions and services that they are licensed to provide.
You can click on "all institutions (alphabetical order)" to search for a particular company.
However, they are also unlicensed financial institutions that are doing businesses in Singapore, often disguised themselves as operating in Singapore or have names similar to licensed financial institutions.

The names can be deceiving. They can be sophisticated sounding (International, Consultancy, Wealth Management, Asset Management). Don't be deceived by the names.

Investor Alert List – not authorised companies
The list is not exhaustive. Choose to transact only with the regulated ones, rather than with the ones not in the alert list, for better fraud prevention.

These advices are good read. Very useful in preventing fraud.

Regulations & Licensing of Singapore financial institution
Useful if you want to know the legislation guidelines.

A licensed/regulated companies and an approved investment product cannot replace due diligence. Due diligence and self-assessment of risks are still of utmost importance at all times when investing in any investment product.

Think Lehman Brother’s Minibond and related products.

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