Beware of Scams

Learn to recognise fraudulent schemes and fraudsters. Also learn how to protect yourself against frauds and SCAMS.
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  • Lectures 20
  • Length 1.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 5/2014 English

Course Description

With advancements in technology, there is a spike in fraudulent cases in recent years. Many websites and advertisements have offered various schemes and products that can help get rich within a short period of time with little risk. They may even sound more convincing with impressive testimonials of customers who claimed to have made huge profits but there was never a word mentioned of how many have lost a fortune.

Be cautious as they may simply just too good to be true.

Learn about:

  • Internet Banking Security
  • Avoiding "Get-Rich-Quick" schemes
  • The dangers of dealing with unregulated (by the Monetary Authority of Singapore) persons

Most importantly, don't be the next victim of the latest SCAMS.

What are the requirements?

  • internet connection
  • basic investing knowledge
  • internet banking experience (optional)

What am I going to get from this course?

  • to warn people about frauds and fraudsters
  • to help people recognise SCAMS, which can be both online or offline
  • to know how to protect yourself against SCAMS

Who is the target audience?

  • investors
  • general public

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction

This lecture introduces this e-learning module on Avoiding SCAMS.


In this video, we looking at 5 common types of scams:

  • Internet Love Scam
  • Cyber Extortion Scam
  • Money Mule Scam
  • Online Purchase Scan
  • Lottery Scam

This MoneySENSE Core Financial Capabilities Framework consists of:

  • Understanding money
  • Understanding yourself, your rights and responsibilities
  • Managing everyday money
  • Planning ahead
  • Selecting financial products suitable for you
Section 2: Avoiding SCAMS
Learn about the Common Types of Scams and what you can do to protect yourself.
Pitfalls can happen with dealing with unregulated entities such as Land Banking, Get Rich Quick Seminars, Gold Buy Back Schemes and Virtual Currencies.

Many unregulated investment schemes end up being scams as well.

Learn about what you can do to avoid being the next victim of a Scam.
Learn about the Consumer Protection (Fair Trading) Act (CPFTA) and the Financial Industry Disputes Resolution Centre (FIDReC).
5 Case Studies are presented in this lecture.
3 questions and answers for you to consider.
13 questions

Try this quiz to see if you are SCAM proof.

Section 3: Making SENSE of Internet Banking Security

In this lecture, we look at issues regarding your Personal Identification Number (PIN) and One-Time Password (OTP). It is very important to keep your PIN and OTP safe and confidential at all times.


In this lecture, we look at Phishing Schemes, where fraudsters attempt to steal details of your account using the Internet. We also look at what you can do to safeguard yourself against Phishing Schemes.

3 pages

In this lecture, we provides notes on Internet Banking Security.

The article can also be accessed from:

Section 4: CAUTION: If it's too good to be true, it probably is

In this lecture, we consider the dangers of get rich quick schemes and what you can do to protect yourself against these unlawful schemes.

2 pages

In this article, we provides notes on why you should avoid "get-rich-quick" schemes and how you can go about doing this.

This article can also be accessed from:

Section 5: Dealing with unregulated persons

It is not advisable to deal with persons who are unregulated by the Monetary Authority of Singapore (MAS). There will be little recourse action available should the person you are dealing with turns out to be a crook.

3 pages

In this lecture, we provide notes on dealing with unregulated persons (those not regulated by the Monetary Authority of Singapore).

This article can also be found at:

Section 6: Conclusion
4 pages

In this article, we provide notes on various types of SCAMS and what you can do to protect yourself against these SCAMS.

This article can also be viewed from:

More examples of SCAMS can be found below:

The Infamous Nigerian 419 Scam

The Gold Guarantee Scam

Genneva Gold Scam

ICA Phone Scam

Scratch and Win Scam

Kidnap Phone Scans

Singapore Police Force Advisory


In this lecture, we conclude this module on Avoiding SCAMS and present some final points on how to avoid being the next victim.


This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.

4 questions

This is a quiz on SCAMS

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Instructor Biography

Institute for Financial Literacy, Unbiased Financial Education Courses

The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.

MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.

Our financial education courses cover basic money management, financial planning and investment know-how.

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