Don't fall for this cash scam

Using CPF like cash urgently? How's its possible? The CPF Board has warned the public not to fall for this cash scam.

The board explains that under the CPF Investment Scheme (CPFIS), profits from investments must be credited back to the individuals' CPF accounts. Rewards or cash rebates earned from investments must also be credited back to the individuals' CPF accounts after being converted to bonus units or monies.

The board also advises the public to invest wisely, taking into account their personal risk preference and what they hope to achieve from their investments.

Those found guilty of violating these rules will be penalised.

As the saying goes, there's no free lunch after all!