Have you received unexpected calls, emails, or text messages claiming to be from iGB, FSMOne or iFAST? Please be cautious! These may be scams attempting to misuse our brand name.

iFAST has recently identified three unrelated incidents in China, South Korea, and the United Kingdom where our brand was misused without authorisation. If you are ever in doubt, we strongly encourage you to verify the authenticity of such requests before taking any action. You can reach out to us through our official social media channels, including LinkedIn, Instagram, YouTube, and Xiaohongshu, for confirmation and updates.

The following outlines the details of each case and important steps to protect yourself.

China: Unauthorised Misuse of iFAST Branding

In recent months, iFAST has received multiple enquiries regarding an entity named “新利众” and its alleged collaboration with our company. We would like to confirm that iFAST has no affiliation of any kind with this organisation.

According to warnings posted on several Chinese online forums, “新利众” has been operating an investment scam falsely claiming affiliation with Genting Group Malaysia. The scheme involves promoting stock investment opportunities and targets financially inexperienced individuals, particularly the elderly. Tactics include operating physical storefronts and holding frequent video meetings to appear legitimate.

Victims were invited to WeChat groups framed as professional investment communities. Inside these groups, scammers introduced a fake trading platform and posed as licensed financial advisors. Promising high returns, they persuaded individuals to transfer funds repeatedly into personal, unauthorised accounts. This method follows the widely known “pig-butchering” scam model, in which scammers gradually build trust before soliciting large investments into fraudulent schemes.

To boost their credibility, the scammers used fake screenshots, trading dashboards, and fabricated documents. The name “奕丰金融”, which closely resembles the official Chinese name of iFAST, was also misused to further mislead victims.

In response, iFAST Financial China Limited. has issued a formal public risk warning, reiterating that it does not engage in any guaranteed-return products or operate via unofficial channels.

iFAST Financial China Limited. is a fund distribution company that has been approved by the China Securities Regulatory Commission (CSRC). The company is authorised to distribute public mutual funds and private securities investment funds. Our fund distribution license code is 381, and our official registered name is 奕丰基金销售有限公司.

iFAST Financial China Limited. does not offer any investment products that guarantee principal or returns. If any individual claims to represent iFAST in such offerings, investors are advised to:

Similar incidents have happened recently in Malaysia, and local authorities are investigating a spike in unauthorised stock purchases on Bursa Malaysia, executed through investor accounts that were not enabled for internet trading. This suggests that breaches may have occurred at the brokerage system level, rather than through end-user credential theft—raising red flags about IT governance within financial institutions.

All official communications and transactions should only occur through the following verified platforms:

The full public statement is available here (Chinese).

South Korea: Fake iFAST Customer Support

In May 2025, iFAST became aware of a fraudulent scheme in South Korea that misused the iFAST Global Bank(iGB) name and branding as part of a romance-linked investment scam. The case involved an individual who was initially contacted through an online dating platform. Over time, the scammer gained the victim’s trust and later introduced an investment opportunity in a fabricated “gold trading” programme.

To give the scheme a false sense of legitimacy, the scammer communicated using a fake chat interface labelled “IFAST CUSTOMER SERVICE,” and directed the victim to transfer funds into a local securities account. To trick people in trusting the communication, the scammers went to great length to appear legitimate, stealing the bank’s logo and mimicking the app’s design. A falsified document titled “BANK ACCOUNT VERIFICATION NOTICE,” bearing the bank’s senior executive and forged signature, was used to convince the victim further.

Subsequent demands for additional payments were made under the pretext of unlocking investment returns which is an extortion tactic common in such scams.

This incident underscores the need for vigilance when encountering unofficial investment communications or individuals claiming association with iFAST Global Bank. Members of the public are strongly advised to verify any communications or platforms using the iFAST brand and to refrain from engaging with unverified contacts.

To protect yourself, please ensure all interactions with iFAST Global Bank take place through our verified channels:

We do not operate under any other platforms.

UK: Misleading Website Mimicking iFAST Global Bank 

In May 2025, iFAST became aware of a fraudulent scheme in South Korea that misused the iFAST Global Bank(iGB) name and branding as part of a romance-linked investment scam. The case involved an individual who was initially contacted through an online dating platform. Over time, the scammer gained the victim’s trust and later introduced an investment opportunity in a fabricated “gold trading” programme.

To give the scheme a false sense of legitimacy, the scammer communicated using a fake chat interface labelled “IFAST CUSTOMER SERVICE,” and directed the victim to transfer funds into a local securities account. To trick people in trusting the communication, the scammers went to great length to appear legitimate, stealing the bank’s logo and mimicking the app’s design. A falsified document titled “BANK ACCOUNT VERIFICATION NOTICE,” bearing the bank’s senior executive and forged signature, was used to convince the victim further.

Subsequent demands for additional payments were made under the pretext of unlocking investment returns which is an extortion tactic common in such scams.

This incident underscores the need for vigilance when encountering unofficial investment communications or individuals claiming association with iFAST Global Bank. Members of the public are strongly advised to verify any communications or platforms using the iFAST brand and to refrain from engaging with unverified contacts.

To protect yourself, please ensure all interactions with iFAST Global Bank take place through our verified channels:

How Investors Can Protect Themselves

To safeguard against fraudulent schemes involving unauthorised use of iFAST’s identity, we strongly encourage the public and investors to take the following precautions:

To find out more about iFAST Corp, contact us at (65) 6535 8033 or visit our website at www.ifastcorp.com

Singapore     •    Hong Kong      •     Malaysia     •    China     •    UK