More than $1.7 million lost in scams using fraudulent mobile apps

SINGAPORE – Victims have lost about $1.72 million after falling prey to investment and job scams that involve fraudulent mobile apps on the Apple App Store and Google Play Store.

At least 32 such cases have been reported since January 2025, police said in an advisory on Aug 1.

In this scam variant, scammers would approach victims through social media platforms such as Facebook, as well as communications and dating apps, such as LinkedIn and Tinder. Scam victims were also approached using investment advertisements listed on social media.

After building rapport with victims, the scammers then introduced fake investment or job opportunities to them. Victims were told to download and set up accounts on fraudulent mobile apps such as Dyreka, M Tree PE, Saftools and Tik StoreB2B on the app stores.

Under the guise of investment or purchasing goods to set up a business, victims would be instructed to transfer money to the scammer’s bank accounts or cryptocurrency wallets, police added.

The police said that these transactions included the Singapore dollar, foreign fiat currencies and cryptocurrencies.

Some victims would be given small profits to encourage them to deposit more money into these fraudulent investments or online businesses, police said.

Victims would realise they had been scammed only when they could not withdraw their money, or when the scammers became uncontactable.

Members of the public should be cautious when making investment decisions and adopt precautionary measures, the police advised.

These include setting up security features, such as activating privacy functions on devices, to prevent unknown users from adding someone into chat groups.

Suspicious messages, phone numbers and website links can be checked with the ScamShield app, by calling its hotline at 1799, or by visiting

Before making investment decisions, ask the company as many questions as needed, the police advised.

If the company cannot or avoid answering, check the company, its owners, directors, as well as management members to assess the authenticity of investment opportunities, the police said.

The credentials of the company and its representatives can be checked using resources, including the Financial Institutions Directory, the Register of Representatives, and the Investor Alert List. These are available on the

.

Members of the public should download apps only from official app stores, and should also check for user reviews and ratings. They should also download anti-malware scanning apps. 

ScamsPoliceInternet crimes and scams