Posted on August 16, 2009 - by Eng Tiang Chuan

Why Singaporeans Fall Prey to Scams

Photo by silverfox09

A couple of weeks back, I received the same sms from 2 friends on the $49 worth of free calls by the 3 telephone operators to celebrate singaporean’s sending out 60 billion local smses. I smell a rat immediately and ask my friend:”Are u sure?”. Both gave the same reply:” No harm trying!”

About 2 years back, a friend was approached to join the Swiss Cash scam. When warned about high possibility of it being a scam, the reply was again “No harm trying”…

Recently, a more innovative “scam” have surfaced. This company sells you gold at a much higher cost compared to the market price. It then guarantees you a 2% interest every month and a buy back at the original bought price when you decide to sell. Many people, including churches, have expressed interest. No harm trying…

A typical scammer will present his scam in this way: Read more…

Related posts:

1. Scams Are Getting Around The System
2. Personal Finance Part 14 – Scams, Trickery and Dodgy Behaviour
3. Poor financial future for Singaporeans