Basic tips to spot investment Scams.

[Perisher]

Seeing as there are many get rich quick schemes around promising high returns, downline extrapolated returns, passive big returns etc...
This is a good basic tips to beware of for any investment.

Still, MAS can do much more when certain scams are freaking obvious...
20% monthly? 30% monthly?
30% yearly?

Please lah, even Warren Buffett don't dare guarantee such things.

 

[endlssorrow]

Actually in the first place many people also don't know how much should the avaerage return to be lor

So they see listen got 30-50% they believe is the norm and correct one

Hahahaha

 

[Wood41]

Malaysia has many such talents & greedy ones.

 

[Artemis77]

Jjptr you mean latest scam

Malaysia has many such talents & greedy ones.

iphone. itypos. iapologise HardwareZone Forums app

 

[TabascoSauce]

Short of making every citizen to pass financial exam or get hefty fine, there's nothing much mas can do if the ppl chose not to educate themselves.

 

[Shion]

High unrealistic ROI

 

[Wood41]

Before this notorious one & more coming into limelight.

Jjptr you mean latest scam

 

[Wood41]

Why do we need a financial exam to know a scam ?

MAS must be pro active, investigate whenever such companies set up here.

Short of making every citizen to pass financial exam or get hefty fine, there's nothing much mas can do if the ppl chose not to educate themselves.

 

[qhong61]

Actually in the first place many people also don't know how much should the avaerage return to be lor

So they see listen got 30-50% they believe is the norm and correct one

Hahahaha

If it's too good to be true, then it's a scam.

 

[TabascoSauce]

Why do we need a financial exam to know a scam ?

MAS must be pro active, investigate whenever such companies set up here.

it takes two hands to clap. and it is basically a supply and demand thing.

victims are the demand for scam, while scammers are the supply of it. im talking about addressing the demand side. there are so many outreach programme, campaign, workshops, online resources by the govt, yet ppl still choose to ignore them and fall for such scams. it means that unless u make it compulsory for everyone to educate themselves on such basic things and prove their understanding through a test, u cant stop these ignorant ppl for throwing themselves into the scam.

u brought up the supply side issue. and mas is alr doing that, which is the purpose for the investor alert list bcos the law cannot arrest ppl until a crime is committed. but what is the use if ppl dont care about the alert list and still choose to put their money into those scams?

 

[terryhoho]

Actually in the first place many people also don't know how much should the avaerage return to be lor

So they see listen got 30-50% they believe is the norm and correct one

Hahahaha

they should just go and see their DBS OCBC UOB bank statement and reaffirm that 0.1% is the norm. LOL

Just kidding,
with No risk - CPF @ 2.something percent. or SGSBOND 2. something percent.
with low risk investing in STI 4-6 % is norm.

the rest requires a bit or skill and luck.

 

[iamveryguailan]

It is probably possible to have such high returns on a monthly basis, but it might not be consistent enough. Also, if one has such high returns, one would probably focus on just whacking it instead of spending extra time and effort to set up offices, do up promotional campaigns to attract people etc.