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Latest Notice » Hong Kong Pump and Dump Scams
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Hong Kong Pump and Dump Scams
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Just like any other global markets, there are risk factors that need to be considered before trading. For example, currency risks, political risks, interest rate risks. |
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Beware of Pump and Dump SCAMS involving HK Stocks and the typical scam technique is as follow: |
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Scammers reach out to targeted persons through social media like WeChat or Linkedin;
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Scammers then befriend individuals for networking, business or investing opportunities;
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After gaining the trust, scammers encourage investing in specific Hong Kong Exchange listed counters with guaranteed returns;
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Once enough individuals believed the scammers and started buying the targeted share, the share price will increase;
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Scammers then dump their shares for profit and are unable to be found;
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The share price will fall substantially and the victims suffer losses
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Source: Singapore Police Force, seedly.sg |
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