Educate S’poreans on investment products at grassroots level

It is worrying that Singaporeans are still taking risks investing their money in exotic investments with no track record (Be wary of digital token investments: Police, MAS; Aug 11).

This is akin to gambling, as there is no benefit of any investment insight, no understanding of the potential risks involved and no tangible underlying assets backing these investments.

It also tells of the current economic climate: Research suggests that poor economic prospects precipitate risk-taking investment behaviour of the gambling variety where there is a chance of a windfall, albeit a slim one.

Given that the economic headwinds will take some time yet to subside, more Singaporean investors would be tempted to gamble on these and other potentially dubious investments.

Before their numbers swell, the authorities should take more action, such as education and awareness at the grassroots level concerning investments linked to virtual currencies.

Community clubs and residents’ committees could be roped in to help reach out to their constituents through investment education forums and roadshows.

With the ever-evolving investment landscape churning out new products, it behoves us to ensure that our investment-savvy quotient keeps up.