Online trading platform Samtrade FX under probe by police, MAS; 3 arrested

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SINGAPORE - Samtrade FX, an overseas online trading platform, is being investigated for suspected irregular trading activities carried out over its system.

Three men, aged between 31 and 36, were arrested between Dec 28 and Dec 29 in connection with the joint investigation, which started on Dec 28 last year, said the Singapore Police Force and Monetary Authority of Singapore on Monday .

In a joint statement, the police and MAS advised the public to exercise caution when dealing with financial products and services and to deal only with people regulated by MAS. MAS' regulatory framework seeks to ensure that only competent and professional people may provide regulated financial services.

 

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