Received any unexpected calls, emails or text messages claiming to represent FSMOne or iFAST? Before taking further actions, always verify the authenticity of such requests.

iFAST Corp is committed to the prevention of scams and frauds to safeguard our investors’ online privacy and safety.

It has come to the company’s attention that there are scammers who may have impersonated as staff of iFAST and/or our subsidiary companies who have either tried to solicit personal information from unsuspecting victims, or to lure them with gifts to participate in promotions or chat groups, or to get them to sign up for investment schemes not offered by the company.

Common channels that scammers use include phone calls, text messages (including on SMSes and messaging applications such as WhatsApp), email, websites, and mobile applications, and some of them may also be fraudulently using the iFAST / FSMOne branding and logos.

In the most recent scam case flagged out to us, a chat group named “iFAST Investment Training Group” has been created on Telegram, and the scammer has impersonated a staff from iFAST Singapore and misused his photograph as the profile photo of this chat group. Apart from creating a scam profile, the scammers also created another chat group named “Stock Investment Sharing” on Telegram to share stock pick tips, impersonating the same staff mentioned above from iFAST Singapore and using the same photograph of his as the profile photo of this chat group. In this chat group, the scammer sent messages to the participants in Chinese, and provided a link to join a chat group on WhatsApp.

Similar scam cases were also flagged out to us previously, in one case, SMSes in Chinese were sent with the sender’s name showing as FACEBOOK or OPPO:

The text message attempted to lure unsuspecting message recipients to click on an URL link to receive codes for two free stocks. After clicking on the link, the message recipients will be redirected to join a WhatsApp group named “IFAST 财经课堂” (English: “IFAST Financial Classroom”) which is not an official WhatsApp chat group under iFAST and has misused iFAST’s logo as its profile photo.

Based on our investigations, the owner of the WhatsApp Group has set up a fake business account and has impersonated a staff from iFAST Singapore and misused his photograph as the profile picture. The scammer will then initiate conversations to establish contact with the unsuspecting victims and eventually attempt to solicit more information while providing stock tips, encouraging the participant to open accounts with other brokers to follow their investment tips given to trade China A-shares and Hong Kong stocks. These are signs of a Pump and Dump scam.

In a separate scam flagged out to us, the scammer impersonated another iFAST staff and sent out spam text messages in Chinese via WhatsApp, attempting to promote and sell online investment courses to unsuspecting victims.

In another scam case flagged out to the Company, the scammers impersonated stock traders of FSMOne:

iFAST and FSMOne would like to reiterate the following points pertaining to impersonation scams:

To find out more about iFAST Corp, contact us at (65) 6535 8033 or visit our website at www.ifastcorp.com

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