Cheating - as defined in the Penal Code of Singapore

Cheating – Whoever, by deceiving any person, fraudulently or dishonestly induces the person so deceived to deliver any property to any person, or to consent that any person shall retain any property, or intentionally induces the person so deceived to do or omit to do anything which he or she would not do or omit if he or she were not so deceived, and which act or omission causes or is likely to cause damage or harm to that person in body, mind, reputation or property, is said to "cheat".For example, A cheats if he intentionally deceives Z into a belief that A means to repay any money that Z may lend to him when A does not intend to repay it, and thereby dishonestly induces Z to lend him money.Cheating is punished with imprisonment of up to one year, or a fine, or both.

Cheating is a crime and action has to be taken by the state, i.e. it is not a civil matter. If a person deceives another person and receives money from the victim, the person is committing the crime of "cheating".

If a forex trainer claims that his technique is guaranteed to make money, and the representations are false, the trainer is deceiving the students and can be charged for the crime of "cheating" them of the fees that are being paid.