How to Spot Investment Scams and Fraud Attempts

10 January 2023

Here’s how you can protect yourself from investment scams and fraud attempts, and how you can verify StashAway.


⚠️Scammers may use platforms, such as SMS, email, social media, WhatsApp, Telegram, or WeChat to contact you, posing as legitimate companies. They may trick you into clicking on a phishing link, ask for your personal information and passwords, and try to convince you to invest in a trending stock. Always verify their details before sharing any information.

Find out about the latest scams below.


Updated 30 November 2022: Scammers have been impersonating our social media accounts under these false handles:

  • Facebook: https://www.facebook.com/stashawayreferralcodelink/

  • Telegram: https://t.me/StashAwayClub


Updated 28 October 2022:

Scammers in Singapore and Hong Kong have been attempting to impersonate our CTO and co-founder, Nino Ulsamer, and our Client Service Executives.

  • The impersonators appear to be mass inviting individuals at random into Telegram and WhatsApp group chats, using Nino’s name (or pretending to be our Client Service Executives) and linking to the StashAway website (or another specific WhatsApp group which is pretending to be investing community group).

  • The impersonators appear to be sharing market commentaries and encouraging individuals to invest in a stock, promising high returns.

A screenshot from one of the threads

A screenshot from one of the threads

It's important that you never commit to any investment product that you don't know, and recognize the red flags behind an investment scam.


What is an investment scam?

An investment scam is a fake investment opportunity that scammers use to entice individuals to invest in. The scammers usually promise lucrative but unrealistic returns. Often, these scammers claim to be from reputable financial institutions to gain your trust.

Here are some ways you can spot an investment scam:

You receive unsolicited contact from an unknown person

Be aware if you receive a call from an unknown number or if you've been added to a group chat where you don't recognize the person who has added you. 

The scammer promises high returns at little or no risk

Scammers often promise unbelievably high returns to lure potential investors. If the return is too good to be true, it probably isn't true. 

The scammer uses pressure tactics

Keep an eye out for "limited time only" offers. Scammers often try to create a sense of urgency to rush you into committing your money and may use time-limited deals, gifts, and rebates to trick you.

The scammer tries to fake their track records and experience 

Scammers often try to gain trust by faking their track records and experience. For example, they may use fake profiles, claim to be regulated by industry bodies, and share fake reviews of their product or company. 

The scammer communicates unprofessionally

Legitimate investment firms will have checks and balances to ensure professional standards. Keep a lookout for spelling mistakes, emails originating from public domains (such as Gmail), and suspicious links and attachments. 

What should you do if you suspect an investment scam?

If you think an investment scammer might have contacted you, make sure you do your due diligence and understand the details of the product or offer before committing.

  • Don't share personal information or click on any links until you verify who is contacting you.

  • Ask as many questions as you need to, and be cautious if the firm isn't able to answer any of your questions or tries to avoid them.

  • Check that the information given about the company is correct, such as its phone number, address, business registration number, and management team.

  • If you suspect the company is fraudulent, check directly with the company in question. Some companies will also have a dedicated scam reporting hotline to help you verify possible investment scams. 

  • If you suspect a scammer on WhatsApp, Viber, or SMS, block their number and report it. 

  • Check if the firm is regulated by the Securities and Futures Commission of Hong Kong (SFC). The SFC provides a list of financial institutions that are regulated to provide financial services through its Public Register of Licensed Persons and Registered Institutions.

How can I verify that StashAway is contacting me?

We'll only ever contact you via our verified channels, including WhatsApp, +852 9862 2676, and our number, +852 5803 7274. You can always check our website for our verified social media accounts. And, we'll NEVER ask you for your login details or passwords. If you're ever in doubt, just check in with us! As always, you can reach out to our client services team at +852 5803 7274, WhatsApp us at +852 9862 2676 or email us at support@stashaway.hk.

Here's how you can verify StashAway on WhatsApp

How to verify whether a WhatsApp account is real or fake image

You can always check that it's us on WhatsApp by looking for WhatsApp's green badge icon next to our contact name, StashAway. You'll also see a notification saying: 'This chat is with the official business account of "StashAway". Tap to learn more.' The green badge icon and notification indicate that the account belongs to our verified official WhatsApp number.

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StashAway Hong Kong Ltd. is a licensed corporation (CE No. BQE542) under the Securities and Futures Ordinance in respect of Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities.

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