Singapore Police Alert: TikTok Jade Scams Targeting Online Shoppers

POLICE ADVISORY ON E-COMMERCE SCAMS INVOLVING THE SALE OF JADE ON TIKTOK

The Singapore Police Force has recently observed an escalating tr in e-commerce frauds where scammers sell jade stones through live streaming on TikTok. Since the beginning of this year, at least 10 victims have fallen prey to these scams with reported losses totaling around $95,000.

Scam

Method One:

Scammers pret to be selling jade pieces via TikTok livestreams. They will provide a local or overseas bank account number for the victim to transfer payment into. Once funds are received, scammers often feign non-receipt of payment or become unreachable thereafter.

Method Two:

In another variant, scammers solicit investments in raw jade stones through TikTok live sessions. The returns on investment dep on the worth of cut gemstones that result from processing the raw material. Interested parties are asked to pre-pay into designated bank accounts. For each jade stone investment, scammers will proceed with the cutting process on a live session and purchase them back for potentially higher prices if the stones prove to be high-quality. They promise refunds in case of low quality or negligible value post-cutting. However, victims are left disappointed upon realizing they have been defrauded when they do not receive their promised returns.

Precautionary Measures

1. Utilize ScamShield App and Enhance Security Features:

• Enable two-factor 2FA authentication on banks, social media, and Singpass accounts.

• Implement multifactor authentication where possible.

• Set transaction limits for internet banking transactions, including PayNow.

2. Verify Transactions and Offers:

• Cross-reference prices with official sources by visiting scamalert.sg or calling the Anti-Scam Helpline at 1800-722-6688.

• Exercise caution when purchasing from unknown sellers on TikTok; avoid impulsive buys that seem too good to be true. Verify seller profiles through reviews and ratings.

3. Inform Others:

• Share knowledge about this scam with family, fris, and colleagues to prevent them from falling victim.

• Report fraudulent TikTok pages to the platform.

Reporting

If you suspect or have information related to such crimes, or if you require advice, please contact us immediately at:

• Police Hotline: 1800-255-0000

• Online submission: www.police.gov.sgiwitness

All information will be handled with strict confidentiality. For urgent police assistance, dial '999'.

To learn more about scams and ways to protect yourself, visit:

• Scamalert.sg

• Anti-Scam Helpline: 1800-722-6688

ACT Agnst Scagether

The Singapore Police Force encourages community vigilance in combating these fraudulent activities. By working together, we can effectively safeguard our community agnst scams.

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