Fraud & Scam Prevention Policy

At Payoutt, protecting our customers from fraud and scams is a top priority. As a licensed Major Payment Institution regulated by the Monetary Authority of Singapore (MAS), we take proactive measures to detect, prevent, and respond to fraudulent activity in our currency exchange and remittance services.

This policy outlines how Payoutt safeguards customers from fraudulent and scam-related activities, and how customers can protect themselves when using our services.

• Zero tolerance for fraud, scams, or any misuse of our services.
• Compliance with all MAS regulations, AML/CFT requirements, and the Payment Services Act.
• Ongoing monitoring of transactions to detect suspicious patterns.

• Impersonation scams– Fraudsters posing as government officials, bank staff, or company representatives.
• Love / romance scams– Manipulating victims into sending money under false pretenses.
• Business email compromise (BEC)– Fake invoices or altered bank details in legitimate-looking communications.
• Investment scams– False promises of high returns to solicit funds.
• Phishing & malware– Fake links or emails designed to steal personal information.

• Customer Due Diligence (CDD) for all transactions above regulatory thresholds.
• Transaction screening & monitoring to identify unusual or high-risk patterns.
• Verification procedures for large or unusual transfers.
• Employee training to detect and prevent scam-related transfers.
• Immediate transaction freezes where suspicious activity is detected.

To protect yourself from fraud and scams:

• Never send money to unknown persons or entities.
• Verify the legitimacy of any request before making payment.
• Be cautious with unsolicited calls, messages, or emails requesting urgent transfers.
• Never share personal or banking details with strangers.
• Inform Payoutt immediately if you suspect you are a victim of a scam.

If you believe you are a victim of fraud or a scam:

• Contact Payoutt immediately at [Insert Contact Number] or [Insert Email].
• File a police report at police.gov.sg or via the Anti-Scam Helpline (1800-722-6688).

We regularly update our customers on the latest scam alerts through in-store notices, website updates, and direct communication.

Our Goal: To ensure that your funds are handled securely, transactions are legitimate, and customers are protected from financial crime.