Monday, September 02, 2013

Learn to identify the scams

When I post a story about a potential scam, I do not show the name of the company or product. Instead, I give details that explain the circumstances, so that the public will be able to identify the scam, or similar products that may be offered to them. 

I often get requests to disclose the name, so that the public can avoid the company or the product. This request usually comes from a person who is lazy to think, and only wants to be spoon-fed.

It is better to learn how to identify similar scams and avoid all of them. It requires you to spend some time to read, to understand, rather than be given the name of the company. Remember - other companies may be offering similar products to trap you, and you can fall into their trap.

Apart from this reason, I cannot tell you the name of the company - because they will get a lawyer to sue me for defamation. It will be difficult for me to prove my "facts".

To avoid being cheated, it is better for the public to spend some time and money to learn about the scams, and how they work, so that the public can identify similar scams based on the scope of operation.


yujuan said...

Self protection is the best strategy, just walk off quickly, reminding oneself LKY said there is no free lunch without effort.
I go to Johore frequently to visit retiree relatives living there.
At the bridge connecting JB customs with City Square Shopping Centre, many times stopped by young ladies enticing me with lottery scams that luck is with me cause I am picked to get a prize.
Dun look into their eyes but walk away quickly. My retiree friends say they use black magic to snare victims.
Up to you to believe or not.
Wanna try to make money, may as well go for the stock market, another form of gambling, someone said every time he buys stock, the counter goes down the next day. But he added, at least he has bones left, and dividends to get, or hopes of regrouping capital later. Guess this man is much wiser.

Sobri said...

I have been approached by those scratch and win people many times in JB. Some could be very persistent. The best way to rid them is to tell them that you have made a police report in your last case. The police advised you not to take part in such lotteries. If pestered the police told you to call them to check on the authenticity of the lottery. So can you call the police?

Sobri said...

Mr Tan, your advice has been most beneficial. I knew about land banking from your site. As a result, when I got a phone call from a sales person of a Malay Investment Group, which is now in very serious trouble, I at once told him that it was land banking. Of course he denied it, but quickly backed off. Many have been cheated, including a well-known personality on TV cooking.

Weng Mao Fa said...

In early-September, I received a Chinese national call. She identify herself from People Park, Singapore. She request me for an appointment about an investment. I ignore her.

Weng Mao Fa said...

Want investment in land, service, apply CDP account with a broker house and buy REIT at right timing. Lot of free talk/presentation from broker/fund manager or CEO of particular REIT. IT IS FREE OF CHARGE. AFTER PRESENTATION, THEY DON'T ASK YOU BUY! Is that interesting>

Weng Mao Fa said...

If you want cheapest investment cost at less than a feeder bus ticket, try Land & House Freehold Property Fund.

Go to ->Company/Security Information->L->Land & House Fund---->Major Shareholder-->Singapore GIC

Why not invest there if for long-term purpose? Dividen at 5%

Philip Security ( or other broker will help you with minimum risk under the law.

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