Singaporeans have been on the lookout amid the recent spate of phishing scams that have resulted in millions of dollars in lost savings. To add to the list of concerns, police are now warning the public of yet another widespread scam sweeping the nation.
This scam manifests itself, not in the bait & switch nature of phishing websites masquerading as banks, but in the subtleties of a long-cherished Singaporean past time – eating. More specifically, victims have reported being approached out of the blue by long lost friends from primary, secondary, tertiary schools, and NS. In a pandemic-weary Singapore, the offer of social connection over a simple meal after months of Covid-induced isolation proved to be too good to pass.
Unsuspecting victims were also drawn by the friendly demeanor of the suspects. Conversations would generally begin with the usual updates on one’s life, only to steer to the inevitable preset talking points. “The turning point of the conversation began when she started to talk about my life goals” said Yin Su Ren (not her real name). “You know ah, life goals like marriage, starting a family all require proper financial planning”, the suspect quipped. Su Ren attempted to deflect the conversation to other topics, but to no avail. Eventually, the suspect confirmed Su Ren’s worst fears when she revealed her true identity as a financial planner. What followed were sketches of cash flow graphs on the suspect’s iPad, interjected with affirmations like “ever since I joined 3 months ago, my mentor has opened my eyes to see the need to help people with their financial planning”. In spite of Su Ren’s disappointment at the turn of events, she eventually purchased an investment link product within the month.
Reflecting on the events of the night, Su Ren admitted that she should have spotted the red flags leading up to the meet-up.
“On hindsight, I realized that the arms folded pose while wearing a blazer in front of Marina Bay was a dead giveaway, and so were the #workhardplayhard #hustletohelpothers hashtags on her Instagram bio”.
When asked why Su Ren still purchased a plan, she conceded that there were big ticket financial obligations coming her way.
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