Date: For Parliament Sitting on 7 October 2026

Name and Constituency of Member of Parliament

Mr Kenneth Tiong Boon Kiat, Aljunied GRC

Question

Mr Kenneth Tiong Boon Kiat: To ask the Prime Minister and Minister for Finance for promoters of investment schemes (a) whether ScamShield will let the public check, for free, a promoter's directorships, bankruptcy, involvement in wound up companies and foreign regulators' alerts before investing; and (b) whether the Government will warn the public of promoters that its registers show as undischarged bankrupts or directors of companies wound up with unpaid debts, before victims report losses.

Answer by Mr Alvin Tan, Minister of State, Ministry of Foreign Affairs and Ministry of National Development, and Board member of the Monetary Authority of Singapore (MAS), on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Energy, Trade and Industry (Trade), and Chairman of MAS:

1. ScamShield is not a suitable tool for consumers to perform due diligence on persons offering investment schemes. It serves as an anti-scam tool for consumers to check, block and report messages, websites and phone numbers suspected to be scam-related.

2. Information on a person’s directorships and other business involvements, as well as bankruptcy status, is publicly available for a fee on the Accounting and Corporate Regulatory Authority’s Bizfile website and the Ministry of Law Insolvency Office’s website. Consumers should approach every investment opportunity with caution and deal only with entities licensed by the Monetary Authority of Singapore (MAS), and their appointed representatives.

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