Investments with Hua Seng Heng top fake news last week: DES Ministry
The DES Ministry warns that fake investment news using Hua Seng Heng’s name topped Thai social media scams last week, according to the Anti-Fake News Centre.
The Anti-Fake News Centre (AFNC) under the Digital Economy and Society (DES) Ministry announced on Sunday that false news posts luring people to invest in gold and stocks with a well-known gold investment firm were the most widely spread fake news on Thai social media last week.
Over one million posts monitored
The AFNC said it monitored over one million online posts between 3–9 October using social listening technology and had to re-verify 224 issues that appeared suspicious.
It said the re-checks found that the top ten fake news stories circulating on social media were primarily online scams that used the names of government agencies and major corporations to deceive users.
Top names used in scams
According to the AFNC, the three most frequently misused names of private companies and government agencies were:
- Hua Seng Heng Index Futures: Fake posts falsely claimed that people could reserve the company’s shares in the SET50 or invest in its gold funds.
- Provincial Electricity Authority (PEA): One scam encouraged people to add scammers’ Line IDs with the promise of receiving electricity meter deposit refunds.
- Provincial Electricity Authority (PEA): Another fake message alleged that PEA officials would call residents to request changes to their electricity meters.
Other online scams detected
The AFNC also found fake news claiming that state agencies would call citizens to collect personal or financial information.
Some posts fraudulently claimed that victims of online scams could register for refunds via Facebook and TikTok accounts supposedly belonging to the Anti-Money Laundering Office (AMLO).
There were also false claims that motorists could renew or apply for driving licences online, which the AFNC confirmed to be untrue.
DES verifies Hua Seng Heng report false
The DES Ministry confirmed with the Stock Exchange of Thailand (SET) that reports regarding Hua Seng Heng Index Futures investment opportunities were completely fabricated.
