Warning on Fraudulent Websites Soliciting “Cryptocurrency” Investments
Singapore, 29 January 2019… The Monetary Authority of Singapore (MAS) warns members of the public not to be misled by fraudulent websites that solicit investments in cryptocurrencies using fabricated information attributed to the Singapore Government.
These websites falsely claim that Singapore is adopting a cryptocurrency as its official coin. They also claim that a firm has been appointed exclusively to market this cryptocurrency. The sites ask readers to provide their personal and financial details to purchase the cryptocurrency. This is a scam and members of the public should avoid providing any financial or personal information on the forms linked from the websites.
Singapore, 28 December 2023… The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $3.9 million on Credit Suisse AG (Credit Suisse), for its failure to prevent or detect misconduct by its relationship managers Relationship managers here refer to relationship managers, assistant relationship managers,...
MAS has issued prohibition orders against five persons for engaging in unlawful sub-agency activities, where appointed representatives had arrangements with unlicensed individuals to perform financial advisory services on their behalf.
MAS issued its 4th Enforcement Report on 19 September 2023. Published every 18 months, the report updates on enforcement matters in the financial markets, highlights key outcomes and outlines MAS' enforcement priorities.