Singapore Police and Monetary Authority Highlight Forex and Binary Scams

[kreslik.news]

The Commercial Affairs Department (CAD) of the Singapore Police Force and Monetary Authority of Singapore (MAS) have officially stressed the dangers of dealing with unregulated brokers. The warning comes amid an increase in activity on part of such brokers.

The public is advised to exercise extreme caution when dealing with such entities as both the CAD and MAS received a substantial number of complaints from members of the public. Throughout the past year, unregulated online trading platforms were central to the loss of S$7.8 million ($5.8 million).

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