Cheated. Yet again. Again. Always. Sigh.

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Every time I see someone drawing some numbers on a piece of A4 paper to someone else in a food court, I always wonder if thats another scam case. The reason? I could see the % being written on the piece of paper is more than 1% per month. Actually, even if the percentage of return is just 1% per month for a 12% return per month, it is still far too high for comfort. You see, if that business is really able to give you 12%, then they do not need to offer to you. They better offer it to the bank who can get 12% and give you back 4% vis Fixed Deposit. Savvy?

Anyway, not many businesses are able to provide a 12% return per year and certainly NOT returns on a monthly basis. Businesses DO NOT work this way! So, then who gives us such returns? Your guess is as good as mine. Just remember that we will be cheated when we are greedy and IGNORANT. Hopefully, no readers of kopiandproperty.com will ever be cheated yeah. Another case happened recently. Some facts of the case for us to ponder. Share to some people who may need it yeah.

Article in malaymail.com Seberang Perai Utara District Police (ACU) ACP Noorzainy Mohd Noor said a 48-year-old was cheated via a scam after being intrigued by an investment ad offered on the WeChat social app. He said, “The man was excited by the short-term lucrative offer and had called the given phone number before speaking to a woman purportedly from Hong Kong claiming to be the agent of the investment company.”

The victim was promised returns within 2 months and thus he did 22 cash transfers with a total of RM181,209 into two local bank accounts and the woman urged him to increase the investment value by offering him more lucrative returns. He said, “The man only realised that he had been duped after the woman began giving excuses when asked about the investment.”

Another case involved a Grab driver. Noorzainy said the driver lost RM18,980 after being duped by an investment fraud syndicate using the same modus operandi. He said, “The 29-year-old first received the investment ad on WhatsApp and wanted to invest only RM500, but after being persuaded and promised a quick return within two days by a woman who claimed to be an investment agent, he made an investment of RM18,980.” Full Article in malaymail.com

We receive messages daily. Many of these may offer lucrative returns and many look very real. Just remember that everyday there are people getting cheated and the cheaters are getting ever better with their scams. If we go back to the basics, we will note that that an investment return of double digits per year is extremely tough. Certainly they cannot guarantee you a return on a monthly basis. That’s one very important note. Usually they will even give you returns for the first few months so that you get even more of your friends to join you. Then, everyone will have a sad ending together.

Work harder, save and invest more. Stop all these mindset of getting rich in an instant thoughts. It does not happen even in property investments yeah. Happy understanding.

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<Featured Image is courtesy of Stock Photos from Andrii Yalanskyi>

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