CONTENTS
HOME
OUR PARTNERS - Building Linkages, Leveraging Partnerships
WORKING WITH CENTRAL BANKS AND FELLOW REGULATORS
WORKING WITH INDUSTRY
 
WORKING WITH INDUSTRY 47
 
Box Story 8 - Seventh International Advisory Panel Meeting 47
 
Opening of Singapore Exchange Beijing Representative Office 48
 
ABS BCM Standing Committee 49
 
Building a World Class Talent Pool for Singapore's Financial Sector 50
 
Attracting Financial Talent 50
 
Box Story 9 - Finance Scholarship Programme and Doctorate Scholarship Programme 51
 
Educating Consumers to Beware of Bogus Investment Opportunities and Scams 52
 
Box Story 10 - Skit- Money Got Enough! 53
 
FIDReC-NIMA Scheme 53
 
Box Story 11 - Marina Bay Business and Financial Centre 54
 
Financial Conferences And Events 55
 

Educating Consumers to Beware of Bogus Investment Opportunities and Scams

MoneySENSE New Initiatives for Students

Cold calls, emails and bogus internet websites are common techniques used by unregulated persons to solicit business for bogus investments. There have also been isolated cases of fraudulent letters and emails containing MAS' name, logo and letterhead requesting recipients for personal information or to transfer funds to a particular party or account.

MoneySENSE issued three consumer alerts to advise consumers to exercise caution when they receive offers that seem too good to be true. MoneySENSE also informed consumers of how some common scams work and provided tips on how consumers can protect themselves from falling prey to scams. These alerts are available at www.moneysense.gov.sg

Recognising the importance of starting financial education from young, MoneySENSE worked closely with the Ministry of Education and other partners to introduce several new initiatives for students. These included:

  • partnering the Association of Banks in Singapore (ABS) to launch an interactive skit "Saving - the Sensible Habit" for primary school students;
  • collaborating with the Central Provident Fund Board (CPF) and the Institute of Technical Education (ITE) to organise a programme for ITE students; and
  • working with Polytechnics to recognise youths who have taken a sensible approach to managing their money.

In addition, MoneySENSE continued to hold programmes for various segments of the population. Since its launch in October 2003, MoneySENSE has published more than 170 educational articles in the media, organised talks, seminars and workshops that have attracted over 31,000 participants as well as issued 25 consumer guides with a total circulation exceeding 2.2 million. Many of these achievements would not have been possible without the strong support and commitment from the MoneySENSE Financial Education Steering Committee, industry associations, community bodies and the media.