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CAD, MAS issue warning on trading with unregulated online platforms

Samantha Chiew Published on Thu, May 31, 2018 / 5:34 PM GMT+8

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SINGAPORE (May 31): The Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) are advising investors to exercise extreme caution when dealing with unregulated online trading platforms.

This came on the back of increasing number of complaints from members of the public involving losses from unregulated online trading platforms over the past year.

In 2017, CAD received 142 reports from consumers who lost a total of $7.8 million from trading with unlicensed platforms, an increase of 40 reports from 2016.