SC to block investment websites by June 11th
An alternative title for this post is “Get your money out NOW!”.
The Securities Commission of Malaysia has announced that all fraudulent websites will be blocked from 11th June onwards. This is to prevent more people being duped into giving their money into unscrupulous and unmonitored websites currently being heavily promoted here.
In Malaysia, it is illegal to collect deposits from the public without any approval from the government through the central bank. Though most of the websites that collect the money are based outside of the country, it seems that majority of their investors are Malaysians.
After checking out the list, below are some sites that I’ve heard of;
swisscash (a lot of people joined this)
eaindex.com (a few of my friends is involved in this one)
ipcshopping.com (friends who didn’t call me for a few years finally did and asked me to join this, I declined).
If you have any money in these schemes, then maybe now is the right time to cash out all of them (that is, if you can lah, since some of them need 100 days just to get back your investment).
But does this mean that you cannot access the site completely? Of course not, only harder. You can still use some online tunneling to by-pass the block filters but not every tom, dick and harry can do it. You need to get a hold of techies to help you with this one.
Besides, if the owner of the websites really care about its investors, they can always setup another domain name on another server for its existing members from Malaysia to access the site.
To see the list of websites that is in the bad books of SC can be found on this URL : http://www.sc.com.my/eng/html/licensing/investors/Alert_list.html
Links
SC lauded for blocking access to web scam sites
Security Commission Malaysia
June 3rd, 2007 at 10:06 am
Some family members & relatives are involved in these. I was sponsored, made good bucks but tak sempat to cash it out cos I wanted to see how much the $$ could grow. It sounded too good to be true when I first heard about it. Pity those who really invested a fortune in these schemes…
June 3rd, 2007 at 11:33 am
A Datuk I knew personally SMSed me at least 2 times to join eaindex. A colleague is now driving a brand new RM240K Merc using money earned from eaindex. Still that didnt manage to get me to join.
June 3rd, 2007 at 6:36 pm
Just don’t stop PPP sudah .. he he..
Bengodomon.. looks like people do make money after all?
June 3rd, 2007 at 7:07 pm
Yes, they did, but much more people lose out compared to those who made it big.
June 3rd, 2007 at 9:41 pm
If people got money to spend and if they wanna be dumbo’s and invest in sites that they don’t even check the legitimacy, and if they lose their money, it’s no fault of anyone’s but their own, besides I think that the government just wants the money invested here la and not out of the country.
June 3rd, 2007 at 10:16 pm
actually those who gained the most from these sites are those who introduced other investors, where they get certain % from their underline’s investments. Ben, in the case with yr colleague with a merc to show, im sure the rest throw their hard-earned $ to follow suit. seeing is believing.
nick - you hv a point there. the govt don’t want the outflow of ringgit outside of the country.
June 5th, 2007 at 2:13 am
simple rob peter to pay paul scheme …