Police warn against fake online articles of PM Lee endorsing investment in cryptocurrencies

SINGAPORE: Police on Saturday (April 30) warned of fake online articles showing Prime Minister Lee Hsien Loong allegedly endorsing investments in cryptocurrencies such as Bitcoin and Ethereum.

These fake online articles portray the investments as “safe and highly lucrative,” police said in a press release.

“The online articles are usually paid online ads disguised as news articles. They act as ‘clickbait,'” police added.

Once someone clicks on the link in the article, they will be redirected to another website that offers investing through trading cryptocurrency or other financial products.

Those who provided contact information on the website usually received a call from someone in the system.

“Police want to inform the public not to do business with companies that use false or misleading advertising,” they said.

People should ask as many questions as they need to fully understand the investment opportunity and be wary if the company cannot or avoids answering their questions, police said.

You should review the company, its owners, directors and officers to assess whether the opportunity is genuine and confirm the company’s and agent’s references using available resources, including the Financial Institutions Directory.

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