Get Rich Scheme : How to Protect Yourself

The Phenomenon of Get-Rich-Quick-Schemes   

The issue of get-rich-quick schemes shows no signs of slowing down, with new techniques emerging constantly and successfully deceiving the public. Most disturbingly, these syndicates are now shamelessly using religion as a tool to manipulate, even masquerading as entrepreneurial seminars or MLMs to dupe potential investors.  

Regardless of who they target – professionals, students, rural or urban dwellers – all fall victim to the allure of swift returns, even when the promises appear to be outrageously high.   

Nevertheless, no matter how cleverly these syndicates deceive, if the public refrains from seeking quick profits and is willing to acquire knowledge about investments, these schemes might find it is impossible to trap them.  

Navigating the Investment Landscape Wisely  

The first question you must ask yourself should be the promised returns. Is it logical for an unknown company to offer high returns? Why do you hesitate to invest in government-recognized investment products but opt for companies with questionable origins?  

Even the returns offered by unit trust funds like Amanah Saham Bumiputera (ASB) are already quite appealing if one desires a reliable investment with competitive returns.   

The annual returns might not match those promised by get-rich-quick schemes. Yet, it is safer as the fund is managed by Amanah Saham Nasional Berhad (ASNB), a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB), the country's largest fund manager.   

Moreover, all unit trust companies in Malaysia are supervised by Bank Negara Malaysia (BNM) and the Securities Commission (SC) to safeguard unit holder money.  

 BNM has continuously taken steps to advise the public not to invest with unregulated individuals or entities and to consult relevant authorities if they suspect any offered schemes.  

It's disheartening that once you fall victim, your invested money is usually irretrievable, as consumer protection laws overseen by BNM don't apply if you put your money with unregistered financial service providers.  

Prioritizing Safe Investments  

Hence, please resist the temptation of hunting for extraordinary returns, as it is nearly impossible for any company to achieve it in the current economic situation.  

Legitimate investment opportunities abound in our nation, offering returns commensurate with acceptable risks. Rather than risking your money with irresponsible syndicates, opt for trust funds or the stock market to create your wealth.  

However, before diving into any high-risk investments, such as the stock market, enhance your knowledge to ensure that you can manage your investment wisely.   

Otherwise, invest in low-risk unit trust funds like ASB, ASB 2, and ASM 2 Wawasan, which promise capital preservation and annual dividends.   

Ultimately, choosing investments sanctioned by authorities is crucial to avoid falling for the sweet promises of unregulated syndicates.