Personal Finance
5 Scams to Look Out for in Singapore (Guest Post)
By Invest Openly  •  July 29, 2015
Singapore is the financial hub of Asia, which just means we have too many financial products. At some point, even the experts struggle to tell between the real thing and the scams. Then you have the “grey area” products, which are not so much scams (some of them are sort of legal), but are just bad deals. Here’s some to look out for: 1. The Funding Scam Whenever you see the word funding, be on your guard. There’s a reason why funding is used in place of investment. The simple reason is that the Monetary Authority of Singapore (MAS) sets stringent standards on investment products, and the easiest way to bypass those checks is to use alternative terms like funding. So in many cases, funding is just a code word for “unregulated financial product.” The word funding can be applied to almost anything--gold funding, startup funding, or ...  ...
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By Invest Openly
My name is Richard Ng and I am a Malaysian turned Singaporean. This is a personal blog of mine detailing my venture in Share Investment Project. All the details in this blog are from my real venture (as it happens) and all amount quoted are in SGD (Singapore Dollars), unless otherwise stated.
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