Friday, June 01, 2007

Illegal Investment Schemes

The Securities Commission has said it again - they will work together with Malaysian Communications and Multimedia Commission (MCMC) and CyberSecurity Malaysia to block access to those illegal investment schemes as those listed in their website, which I have blogged about on 17 May 2007.

The arrangement to block such access will be effected on 11 June 2007 giving much ample time and chances to Malaysian investors who have invested in such schemes to pull out / sell / dispose of by then. That's exactly 10 days away only. And if those investment schemes knew that the government was effecting such steps, surely those investment schemes will start delaying the returns of your investments/capital/profits.

Only way to continue your investment (if you still want it) is to travel to neighbouring countries to have access to those websites. By that time, your travelling costs would have taken up your profits too.

One person said that investors in either the approved or illegal investment schemes in Malaysia would know their exposure to whatever risks if they wanted to participate and it should be up to the investors to decide instead. Well, there are laws to be followed and I'm very sure that the investors didn't expect this risk - government intervention in blocking internet access to such illegal investment schemes.

If investors are left alone without any investment laws then it would be the same as drivers who learnt driving on their own (where drivers are not compelled to take licences/lessons) will decide to drive on major roads. I'm sure the drivers knew what sort of danger they are exposing themselves/others to but they are taking that risk. Owing to this, road transport act has to be enacted.
Tags: Securities Commission, Illegal Investment Schemes, Malaysian Communications and Multimedia Commission, MCMC, CyberSecurity Malaysia



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