Monday, October 01, 2018

MAS Investor Alert List

Hi Mr. Tan,
I would like to inform you of this company which I believe may be a potential scam.

Recently, I was approached to invest money with this organisation called XXX which trades in forex. The person promised me 3% return EVERY MONTH, which I feel is too good to be true.

If you do a quick Google search, the company seems to have quite a good media team to portray themselves as a successful start-up. Their boss has also been donating alot of money to charity and taking photos with Halimah Yaccob.

However, it also seems that the company is on the MAS Investor Alert List

So I did more research by obtaining a business file and realised that the company is registered as having "office administrative services on a fee or contract basis" as its primary activities.

Worse, it is not even audited which is a BIG red flag for a company supposedly in the financial services.

I am not sure what you think about this but it is quite shocking that the regulators would allow such an organisation to exist!

REPLY
I agree with you.

3 comments:

Anonymous said...

what company is this? 3% return every month?
mind sharing the company name?

Anonymous said...

are you referring to this guy. He is on the MAS Investor Alert list
http://www.mas.gov.sg/IAL.aspx?sc_p=K

Kenneth Kam / Kenn Organisation / Kenn Group
Company address:
10 Marina Boulevard
Level 39 Marina Bay Financial Centre Tower 2
Singapore 018983

Website: http://www.kenn.org/
Tel: +65 6818 6358 / +66 9 1865 5585
Emails: info@kenn.org; ken@fx2.asia

Anonymous said...

ah... this flamboyant man, Kenneth Kam!
if you talk about Kenneth Kam, I think a lot of businessmen or referral will receive his potential scam proposal, exactly as mentioned by the original person who posted this.

well, at least the MAS did a good job to post Kenneth Kam on MAS Investor Alert list to warn others. It will have to depend on the people to do their due diligence to ask, check and confirm, if it's too good to be true, it probably it!

sometimes, unscrupulous people are hard to kill, just like cockroaches. you kill them once, they will come back with another name. the best we can do is to take precaution and be careful with investments.

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