Singapore Phishing Websites Using Fake News to Get Users’ Bank and Credit Card Details –

Phishing websites have been using fake news involving the Deputy Prime Minister of Singapore as means of aquiring users’ credit card and bank account information.

Get Rich Quick Scheme

The Singaporean government has condemned two separate websites for trying to acquire bank account and credit card information by distributing false information involving the Deputy Prime Minister of Singapore.

Reportedly, the websites have been pretending that Minister Tharman Shanmugaratnam supports the cryptocurrency industry.

One of the sites claims that DPM Tharman has said that Singapore will be investing in the world’s leading digital currency. The other goes on to explain that Tharman is a venture capitalist and that will be investing S$1 billion on behalf of Singapore.

Naturally, both websites promise that users can easily get rich within no more than a week — all they need to do is register an account by providing their bank account and credit card information.

Fake News

The Monetary Authority of Singapore (MAS) stated on September 18th that the news was fake and said the websites are “deceptive and misleading.”

Regardless, Singapore is shaping up as a rather friendly destination for cryptocurrencies. Earlier this year, the DPM Shanmugaratnam said that he doesn’t consider them to be a threat:

The Monetary Authority of Singapore (MAS) has been closely studying these developments and the potential risks they pose. As of now, there is no strong case to ban cryptocurrency trading here.

In May, the Bitcoinist reported that Singapore has proposed regulatory changes which could essentially green-light cryptocurrency exchanges.

Recently, the city-state’s MAS partnered up with marquee companies NASDAQ, Deloitte and Anquan to develop solutions for simultaneous exchange and final settlement of cryptocurrencies and other security assets.

What are your thoughts on the fake news involving DPM Shanmugaratnam? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock.

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