At AutoWealth, your security and the safety of your assets are our highest priority. We would like to alert our community and the public to a recent rise in impersonation scams. We have received reports of multiple fake Telegram accounts and groups that are fraudulently using the AutoWealth name and logo to deceive individuals.
These accounts and groups are NOT affiliated with AutoWealth in any way. They are scams designed to steal your funds.
What We Know About the Scam
Scammers are creating a false sense of legitimacy to lure victims. Here are the specific tactics we have identified:
- A Fake Telegram Group: A public group named “AUTOWEALTH PRIVATE LIMITED” or “AUTOWEALTH SMART TRADING” or similar is using our official logo to appear legitimate. (Please note: This is not our official AutoWealth Community group).
- An Imposter Account: A fraudulent user account named “AUTOWEALTH MANAGEMENT” or “MANAGEMENT” or similar is actively messaging users, urging them to contact another separate user to begin fake “investments.”
- Fabricated Evidence: The group contains fake screenshots from supposed “users,” showing fabricated deposit slips and "profits." This is a common tactic used to mislead victims into believing the scam is a real investment opportunity.
Their goal is to convince you to transfer money directly to them. We urge you to not engage, click any links, or transfer any funds to these fraudulent accounts.
Our Security Promise: What AutoWealth Will NEVER Do
To help you interact with our team safely and with confidence, please remember these fundamental security rules.
- We Transact ONLY on Our Official Platforms: All legitimate transactions — including portfolio creation, risk level changes, fund deposits, and withdrawals must be initiated only through our official website (autowealth.sg or autowealth.com.sg) or the official AutoWealth mobile app.
- We Will NEVER Ask for Direct, Unofficial Transfers: AutoWealth will NEVER ask you to transfer funds to a personal PayNow number, a personal bank account, or send cryptocurrency to a wallet address. Any such request is a SCAM.
- We Will NEVER Ask for Your Login Details: We will NEVER ask you for your password or your 2-Factor Authentication (2FA) codes. This information is yours alone. Never share it with anyone, even if they claim to be AutoWealth staff.
How to Verify Your Wealth Manager on WhatsApp
We understand that building a personal relationship is important. Your assigned Wealth Manager (WM) may legitimately contact you on WhatsApp to share information or invite you to our exclusive, official Telegram community group.
Before you click any links or trust any message, please take these simple steps to verify their identity:
- Log in to your AutoWealth App or Website Dashboard.
- Navigate to the "Contact Us" section.
- Cross-reference the phone number of the person who contacted you with the official phone number listed on your dashboard for your assigned WM.
If the numbers match exactly, you can be confident you are speaking with your real Wealth Manager. If they do not match, it is likely to be a scam.
What to Do If You Are Unsure or Targeted
If verification fails, you feel unsure, or you suspect you are a victim of a scam, here are the immediate steps to take.
If You Are Unsure About a Message
- Do not engage. Do not reply, click any links, or transfer any funds.
- Block & Report. Immediately block the suspicious user and report them to Telegram or WhatsApp. You can typically report them for "Impersonation" or "Spam."
- Contact Us Directly. Reach out to us through our verified, official channels. Email us at clientservices@autowealth.sg or contact your assigned Wealth Manager using the verified phone number shown in your AutoWealth App or Website Dashboard.
If You Have Lost Money or Personal Information
If you believe you have fallen victim to a scam and have suffered monetary loss or a loss of personal information, you must act immediately.
- Contact Your Bank Immediately. Call your bank’s fraud hotline to report the transaction. They can take immediate actions to prevent further monetary loss.
- File a Police Report. After contacting your bank, file a report with the Singapore Police Force. You can do this online or in person at the nearest Neighbourhood Police Centre or Police Post.
How to Report Scam Information
To help authorities and protect others, you may share information about the scam with the Police even if you have not lost money.
- Call the Police Hotline at 1800-255-0000.
- Submit information online through the I-Witness e-Service at https://www.police.gov.sg/I-witness.
Your vigilance is the best defense against these scams. We are actively working to report and remove these fraudulent accounts and thank the community members who brought this to our attention.
Stay safe and stay vigilant.
This article is for general information purposes only and does not constitute financial advice or an offer to sell any capital market product. All investments involve risk, including the possible loss of principal. Past performance is not indicative of future results. This advertisement has not been reviewed by the Monetary Authority of Singapore. AutoWealth Private Limited (Co. Reg. No. 201540155G) is regulated by the MAS (Licence No. FA100064-1).
