SUPP Official Website PRESS STATEMENT – WILFRED YAP

PRESS STATEMENT – WILFRED YAP

[ MONEY GAME ] 

SUPP’s Public Complain Bureau (PCB) is urging the general public to be extra cautious before investing their hard-earned money in any investment schemes, especially in money games which sound too good to be true.

These ‘get-rich-quick’ schemes have attracted many people who have some ‘extra money in the pockets’, and are always looking for ways to make fast money. But little do they know, if these money games which promise the highest returns within shortest period of time are even managed by legitimate or licensed companies.

“PCB has lately received many complains from ‘investors’ who fell victims to such money games, and is currently doing its best to help these people,” said PCB chief Wilfred Yap.

“If a certain investment scheme sounds too good to be true, then, it is advised that the general public run a background check on the said company before they even decide to fork out their hard-earned savings and risk losing them all to the so called investment schemes, which later turn out to be nothing but a gorgeously packaged scam.”

“The general public must know how to protect their own rights and interests as consumers, please spend some time to research on the company’s background, make good use of IT technologies and be resourceful. SUPP is here to help,” he added.

PCB is advicing the general public NOT to make hasty decisions, no matter how attractive these schemes may sound, they should, instead, run a background check with Bank Negara Malaysia to verify if the said company is blacklisted in their Financial Consumer Alert list, which is updated regularly.

The general public can have access to the list by either browsing Bank Negara’s webpage (http://www.bnm.gov.my/documents/2017/20170522_FCA_EN.pdf) or download Bank Negara’s mobile app MyBNM
( http://www.bnm.gov.my/index.php?lang=en&ch=en_mobileapps) into their smartphone.

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