We received a call from a troubled client after operating hours on our enquiry hotline. Our CIO personally made arrangements to meet near our client’s house and he shared his issue.

Our client was swindled of SGD$15,000 by the debtor who claimed to be a senior executive at an established company that offered programs. We shall not reveal the nature of the program due to the sensitivity of the case.

He made three payments via PayNow to the company’s UEN amounting to SGD$15,000.  Our client started to worry when there was no response at all after payment as they ignored his request for the date and location of the program.

Both of them blocked our client’s mobile number when he requested a refund as he found out that the company overly marked up the program fees from checking with others as to what such programs should cost. Our client went to the stated address on the signed contract and the website. Upon approach to the company, he discovered that this person was not working there, and there was no such program at that price and the UEN was different.

Our CIO requested our client for all the documents and evidence. He advised our client to lodge a police report first.

Through our thorough investigations, we engaged with the debtor with sufficient evidence and a repayment plan was made and over a period of two months, the amount was fully transferred back.

What can we learn from this:

1.         Be alert and avoid being in a conversation with any unknown subjects about a product or service offering until you verify their identity and credentials.

2.         Do a comparison of the same product or service offered by other companies before agreeing and making any payment.

3. If you feel uneasy, contact the main line number of the company to verify the existence of such product or service.