Analysts say real overseas stocks, trading platforms and chat groups can give scams a veneer of legitimacy
4-MIN READ4-MIN ListenKolette LimPublished: 5:41pm, 28 Aug 2026For more than a month, Aaron* thought he and his wife were learning how to trade stocks. Only later would they realise the lessons were part of the trap.
Soon, he and his wife, who were dabbling in stocks for the first time, were spending about two hours every other day in a WhatsApp group chat with dozens of other participants, taking lessons from a “professor” who sent lengthy messages and documents on how to judge bullish markets, analyse market conditions and identify stocks with high potential.
Through private messages, another purported expert told Aaron which stock to buy, when to buy it and when to sell, promising quick returns each time.
