SINGAPORE, May 12 — A doctored photo of Singapore’s Senior Minister of State Low Yen Ling has been used in an elaborate investment scam targeting Chinese citizens via a fake app and WeChat group, prompting warnings from both Low and Temasek.
In a Facebook post today, Low said her image was misused “on a China app, also called Taibai, and a group on messaging app WeChat” to promote fraudulent wealth management products.
The app impersonated a Temasek subsidiary and was used alongside a WeChat group called Jing Shang Hui, or “Beijing chamber of commerce”, to market bogus investments.
Temasek, a Singapore government-owned investment company that manages a global portfolio across various sectors, confirmed it owns a subsidiary named Taibai Investments but said it has no ties to the app or chat group.
“Temasek and Taibai Investments do not sell or market investment products in China, nor has it authorised any third parties to do so,” the firm said.
Low explained that the original image was taken at the Singapore-China Economic Partnership Conference on February 1, 2024. The doctored version falsely depicted her at a signing involving fictitious Chinese organisations.
Low, who also serves as mayor of Singapore’s South West District, urged the public to stay vigilant.
“Even if this scam may have largely affected residents in China, we must stay alert,” she said, sharing real and fake images side by side.
Authorities had earlier warned that such scams often misuse the identities of Singapore political figures, particularly during election periods.