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Website using false comments attributed to Ho Ching to solicit investments: MAS

Website using false comments attributed to Ho Ching to solicit investments: MAS

Screenshots of fraudulent websites soliciting bitcoin investsments using quotes attributed to Temasek Holdings CEO Ho Ching.

SINGAPORE: Fraudulent websites have been soliciting bitcoin investments by using fabricated comments attributed to Temasek Holdings CEO Ho Ching, the Monetary Authority of Singapore (MAS) warned on Wednesday (Feb 5).

One of the websites, attempting to pose as local news outlet The Straits Times, claimed that Mdm Ho's "latest investment has experts in awe and big banks terrified", and that Singaporean citizens are "already raking in millions of dollars from home" using a "wealth loophole".

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Another such website features Mdm Ho's picture, with text advertising a "new secret investment that's making hundreds of people in Singapore very rich", alongside logos of various news outlets.

"The information on the website is highly deceptive and misleading," the MAS advisory said, adding that members of the public who suspect that an investment could be fraudulent or misused for other unlawful activities should report such cases to the police. 

MAS also warned the public to avoid providing any financial or personal information on the forms linked from the website. 

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Mdm Ho published a Facebook post in Nov 25, 2019, alerting members of the public to scams using her name and making up quotes from both herself and other people.

"These fake articles talk about fantastical ways of making money from bitcoins and such like, and pretend there are loopholes for multiplying your money quickly," said Mdm Ho, who encouraged those who saw such posts to report them.

"More importantly, don’t get scammed or conned into investing into this or that get rich schemes," she said.

There have been similar cases involving fabricated comments attributed to ministers or prominent public personalities, including Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam, who is also chairman of MAS, Prime Minister Lee Hsien Loong and Emeritus Senior Minister Goh Chok Tong.

Source: CNA/ic(hm)


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