According to the police, there is a scam circulating on Whatsapp whereby scammers promote the selling of gold bars at a discount to victims, who never receive the gold after payment was made.
The scammers used hacked Whatsapp accounts belonging to the victim’s friends to communicate with the victims.
The scammers fabricated a story whereby they bought gold at a cheap price that was seized by Singapore customs and was being auctioned off, which allowed them to sell for 30% cheaper than the market rate.
They even provided a fake invoice issued by Singapore Customs.
“Always call your friend to verify the authenticity of the request, but do not do so through WhatsApp as the account might have been taken over by scammers,” said the police.
“If the price is too good to be true, it probably is. Purchase only from authorised sellers or reputable sources, especially for high-value items.” the police added