Friday, 16 December 2016

Scam alert: Police warn of online binary option trading scams

There has been a "sharp rise" in scams involving online trading in binary options, said the police on Wednesday (Dec 14), with more than 30 reports of such scams lodged to date, and investors losing more than S$1 million to unregulated binary options trading platforms.

Traders try to predict whether the price of the underlying asset will be above or below a specified price at a specified point in time. This can range from a few minutes to a few months in the future.

Binary options are speculative and risky, and many online platforms offering binary options trading are fraudulent, police said.

In these cases, the investors either lost all their money or could not withdraw the balances in their accounts. Some also had unauthorised withdrawals made using their debit or credit cards after (handing) over their card details for payment.


High protein food may aid losing weight - in Chinese

Exceptional people: Good samaritan's deed rewarded with same deed

He helped a woman pay for her studies at Kaplan Singapore.

John Shu, 50, gave about $6,000 to Ms Jaycie Tay, 32, who was struggling with money for a diploma in 2013.

Now, Kaplan has rewarded him in kind - by sponsoring his daughter's tertiary education.


Exceptional company: SPH gives $20,000 in gifts to Boys' brigade