Beware of Fake Entities

ACRA (Accounting and Corporate Regulatory Authority) is reminding the companies that there is no such thing as Singapore Company Register. The Singapore Company Register is gathering, verifying and updating company details. ACRA said that it did not order any entity to gather, verify or update details.

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The registry purportedly sent letters to business entities claiming that if they fail to verify or update their company details, all their information will be deleted in their database. ACRA reminded the companies that they are not forced to supply details to the Singapore Company Register. Any verifications or update of their records will only go through the ACRA’s online retrieval and filing system. ACRA is investigating the case involving the Singapore Company Register.

So, how can you determine if the organization, government agency or institution is a fake? Fake things are prevalent these days. People who commit fraud grab every opportunity to capitalize on something. If you are not cautious, you will become the victim. There are things that you can do to recognize a fake organization, government agency or institution.

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A dead give-away would be incorrect grammar or misspellings when you visit their website. But you have to be careful because there are scammers that are very smart too. Before giving any information, be sure that you checked out the organization. Like in this case, you can ask the ACRA. If they deny knowledge about a certain company gathering, verifying or updating business entities, that should ring a bell.

The best thing to do is refer to ACRA’s website or better yet, you should contact ACRA right away so you will know the answers right away. When you discovered that indeed it is a fake entity, the least thing that you can do is spread the word.