Standard Chartered Fixed Deposit Scam Alert!

 Standard Chartered clients, beware!

The bank has sent out notices to client that there is a fixed deposit scam taking place under the guise of Standard Chartered.

According to the bank : 

If you are targeted, the scammer will call or send a text message from a +65 number, impersonating a Standard Chartered staff offering a time-limited Fixed Deposit promotion with high returns.

The scammer will ask you to share your name, address, and intended deposit amount and request that you transfer funds into a newly-created third-party account allegedly opened under your name. You may also receive a fake bank statement to "confirm" the deposit. The scammer will then transfer the funds out of that account immediately, and will become uncontactable.

If you have been receiving such messages, the best thing to do is to ignore, erase and ban the number.

After all, there is no such thing as free lunch in the world. If it sounds too good to be true, it probably is. Do note that this scam can be easily replicated to other banks, so be aware if you receive similar messages on fixed deposit promos from other banks.