Always Have Enough Money by Ooi Boon Tan & Straits Times Press

Author:Ooi Boon Tan & Straits Times Press [Tan, Ooi Boon & Press, Straits Times]
Language: eng
Format: epub
Publisher: Straits Times Press
Published: 2022-05-03T16:00:00+00:00

So, what lessons can be learnt from John’s mistakes? Here are some way to avoid being scammed:

• You should always be cautious when you are shown an investment pitch that comes with returns that are too good to be true.

• Always remember the three golden rules of the MAS: ask, check and confirm. Ask as many questions as you can, such as how the companies are able to give you the promised returns.

• Do not assume that all companies are licensed ones. Check the backgrounds and addresses of companies that make those promises and check on their schemes too.

• Confirm if these companies are regulated by the MAS by using resources on its website. It is easy for scammers to set up an online platform to make victims believe that they are genuine businesses dealing in a wide range of products, such as foreign exchange, shares, commodities and cryptocurrency. Some of these websites may also contain fake claims that their businesses were sanctioned by celebrities or even government leaders.

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