CASE and MAS watchlists
You should also check if the business entity is listed on CASE’s consumer alert lists or the Monetary Authority of Singapore (MAS)investor alert watch list.
The CASE website provides consumer alerts on business entities that may be involved in dubious business practices. It also provides useful information on what consumers should look out for when making purchases or investing.
The MAS website publishes an investor alert list of companies that engage in business activities which are not regulated by MAS.
You should exercise caution when dealing with business entities that appear on these watch lists.
Bankruptcy Orders
You may perform an individual insolvency search function at the Insolvency Office website, to find out whether a bankruptcy order has been made against a person in Singapore whom you are dealing with. You should not deal with any bankrupt person whom you suspect is still involved with a business entity.
CaseTrust Accreditation
You can check if a business entity is CaseTrust-accredited. This is an award given to businesses in Singapore that are committed towards maintaining a high level of good business and customer practices. Business entities which are registered with CaseTrust must adhere to a set of criteria which include transparency in their business and service policies. For more information and to do a search of CaseTrust accredited business entities, visit www.casetrust.org.sg.
Media Reports
You may also wish to check the reputation of the business entity by scanning the newspapers or researching the entity online to see if there were any adverse reports on it, or whether it has a poor reputation among customers. You should exercise caution when dealing with such entity.