Advance Fee Fraud
What is Advance Fee Fraud?
Advance Fee Fraud is a confidence trick, where one gets an email, letter or fax from fraudsters claiming to be from the government or bank, and is conned into parting with a sum of money.
How can I spot Advance Fee Fraud?
- You receive unsolicited emails, letters or faxes from government or bank officials promising you a large sum of money from unclaimed fortunes in another bank account.
- You are asked to make payments as administrative or legal purposes, in order to retrieve the money.
Be on your guard, as these are clear signs of Advance Fee Fraud, and what you are asked to do is potentially illegal.
Some examples of Advance Fee Fraud
A typical unsolicited email used to trick victims, are usually in the following format:
- Dear Sir/Madam,
My name is Mr. X and I work as a senior investment consultant with DBS Capital Investment Ltd. It has come to my knowledge that Mr. A has US$XXX million with the Bank. Unfortunately, he passed away without leaving a will or naming any surviving relative to inherit the funds... I wish to invite you to pose as a relative of the late Mr XYZ and claim the funds... Please contact me at my personal email at XYZ@email.com."
- Dear Sir/Madam,
I am Miss XYZ, secretary and personal assistant to the Chairman of DBS Bank (HK). I got your email account while searching the internet on request from my boss. I bring forth a business proposal to the tune of $XXX million to be transferred to an offshore account with your assistance acting as beneficiary and next-of-kin to the fund If you are keen on this business transaction, please contact my boss at his private email account with your details."
What should you do if you have revealed your banking details to fraudsters?
If you suspect you have been a victim of fraud, and have
revealed your personal banking details to fraudsters of this
nature, please call our hotline.
- DBS will never send such an email to ask you to retrieve unclaimed monies.
- All official email addresses used by DBS end with @dbs.com.
- If you have received such unsolicited emails or letters, do not respond.
- If you are unsure whether the letter you have received is from DBS, do verify it with us.