Key points
- The MAS Investor Alert List lists persons who, based on information available to MAS, may be or may have been wrongly perceived as licensed, authorised or regulated by MAS, or who made certain offers that may be wrongly perceived as authorised, recognised, registered, or accompanied by a lodged or registered document.
- MAS says the list is not exhaustive and is based on what was known to MAS at the time of publication.
- MAS will no longer publish on the list the names and online identifiers, such as websites and messaging channels, of entities who impersonate MAS-regulated financial institutions, so an impersonation case may not appear.
- Look up the firm's name and trading names on the list; MAS advises verifying the institution's identity, dealing only through official channels, and checking official contact details on its website or the MAS Financial Institutions Directory if in doubt.
- PipVet's general advice: if a firm appears on the list, keep records and consider pausing further deposits; use the contact details on the MAS website if you wish to contact MAS.
What the MAS Investor Alert List is
MAS describes the Investor Alert List as a list of persons who, based on information available to MAS, may be or may have been wrongly perceived as licensed, authorised or regulated by MAS, or who made an offer of units in a business trust or collective investment scheme, or an offer of investment, that may be wrongly perceived as authorised, recognised, registered, or accompanied by a document lodged or registered with MAS.
MAS says the list is not exhaustive and is based on what was known to MAS at the time of publication. The MAS Investor Alert List page is the source for the list itself.
Important limitation: impersonation may not appear
MAS states that it will no longer publish on this list the names and online identifiers, such as websites and messaging channels, of entities who impersonate MAS-regulated financial institutions. A firm impersonating a licensed institution may therefore not appear on the list.
This makes independent verification important. MAS's advice is to always verify the institution's identity, deal only through official channels, and, if in doubt, check its official contact details on its website or the MAS Financial Institutions Directory.
What an entry means — and does not mean
An entry means the person is included on the list as MAS describes it above. The list is not a substitute for checking whether a firm is licensed. MAS says the list is not exhaustive and is based on what was known at the time of publication, so a firm may be absent and still not be licensed.
PipVet's general advice is to treat the list as one check among others. Use MAS's advice: verify the institution's identity, deal only through official channels, and if in doubt check its official contact details on its website or the MAS Financial Institutions Directory.
How to check a firm and verify identity
Look up the firm's name and trading names on the MAS Investor Alert List. Do not rely on a single check.
MAS advises the public to always verify the institution's identity, deal only through official channels, and, if in doubt, check its official contact details on its website or the MAS Financial Institutions Directory. PipVet's general advice is to confirm licence details through official channels before transferring significant funds.
If a broker you use appears on the list — PipVet's general advice
PipVet's general advice: consider pausing further deposits while you establish the facts. Keep account statements, transaction receipts, emails, chat logs, screenshots of the firm's website and any promotional material.
Consider contacting your bank or payment provider about options to block further payments or dispute recent transfers. If you wish to contact MAS, use the contact details on the MAS website. Consider seeking independent legal or consumer advice if you suspect fraud.
Documenting and reporting: what to keep
PipVet's general advice: keep clear records. Helpful items include the firm's name and trading names, website address, the contact details used, dates and amounts of transactions, payment details used for deposits, and copies of correspondence and marketing.
Write a short chronological account of events and keep copies of everything you send. These records can help you explain the matter to your bank, payment provider, independent adviser, or any authority you contact.
Further checks and practical precautions
PipVet's general advice: ask the firm for verifiable licence details and confirm them independently before transferring significant funds. Request written account terms, withdrawal procedures and a business address. Be cautious if the firm refuses to provide written answers or delays withdrawal requests.
Be cautious if payments are routed to private accounts or personal wallets, or if unusual payment methods are required. If you have doubts, consider pausing activity and seeking independent legal or consumer advice.
An entry on the MAS Investor Alert List is one factor to consider. Absence from the list is not proof that a firm is licensed. Use MAS's advice: verify identity, deal only through official channels, and check official contact details on the firm's website or the MAS Financial Institutions Directory if in doubt.
Primary sources
Every claim above can be checked against the authority's own page. These open on the regulator's site, not ours.
| No. | Document | Publisher |
|---|---|---|
| 01 | MAS Investor Alert Listhttps://www.mas.gov.sg/investor-alert-list | mas.gov.sg |
Written by
- Written by
- Register office · Regulation & Safety desk · pipvet.com register office
Every licence reference cited here was looked up on the issuing authority's own database before publication. Where a status is quoted, the published notice is linked.
Frequently asked
Can a firm be removed from the MAS Investor Alert List?
PipVet cannot confirm removals. The MAS Investor Alert List page is the current source. MAS says the list is not exhaustive and is based on what was known to MAS at the time of publication. Look up the firm's name and trading names on the list.
Does an entry on the list mean I will get my money back?
No. An entry on the list does not by itself mean you will recover funds. Recovery depends on factors such as the payment route, the firm's solvency, and any legal or enforcement action. PipVet's general advice is to keep records and seek independent legal or consumer advice if you want to pursue recovery.
Should I close my account immediately if the broker is listed?
PipVet cannot advise on closing an account. PipVet's general advice is to consider pausing further deposits while you check the facts, keep records of transactions and communications, and speak to your bank or payment provider about recent transfers. Consider independent legal or consumer advice before closing an account.
How do I report a firm to MAS?
Use the contact details on the MAS website. Keep a copy of what you send and the date you sent it.