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Tuesday, 13 August 2013

Remembering the SwissCash 'Scam'

Once upon a time there was a scam called SwissCash a.k.a Swiss Mutual Funds. There are a lot more websites like these before it was totally banned by the Malaysian government. I wanted to mentioned a few of them but SC is the biggest so lets stick to it.

SC guarantees the return on investment every month and the according to the following:

1 to 3 months - 10%
4 to 6 months - 15%
7 to 9 months - 20%
10 to 12 months - 25%
13 to 15 months - 30%

All these so-called scams are declared illegal and was banned on 2007. I was one of the investor during the time but luckily I don't lose a large chunk of money like big investors. The first and most popular investing site was of course the SC. Then many other small sites are following its footsteps and slowly gain popularity.

What makes me pissed off was the money that was invested was never returned by the Malaysian Securities Commision. Never mind myself but I really pity others that have invest thousands and thousands of Ringgit (converted to USD) to SC. It is not totally banned, only the website is banned from viewing.

After these few years, SC was still in the back of my mind. I was thinking is it really a scam? However, I never really did a thorough investigation but you can read it in Wikipedia. SC was declared illegal because it is a pyramid scheme and there are no proof that the company even existed.

SC is labelled as a scam and a fraud. During the time it was banned, you cannot even view the website and it never did. It was also claimed that thousands of people lose millions of USD because of this scam. Then, I was thinking, if it is a scam, why in the hell did they pay their investors every month like promised?!

If I am going to start a scam website, I will take everyone's money and poof!! like David Copperfield. I don't have to wait until everybody screams "its a scam!" It is not just SC. All the internet investment websites are paying. They did not take the money and they deliver on time. Where is the scam here?

But that is the past. Now we are in 2013! It is even better! These few months, this dude in my Facebook friend list came out with the same thing but with different approach. With experience that I have, I knew that what he promoted have the same agenda with SC. What's even better is, it is operated in Malaysia and it is licensed.

I won't share the website here for safety reasons. I don't want everybody to get excited again for something that is not certain. It's not the website that I fear, its the government policy. They can turn off the website anytime they want if it is a 'scam'.

I also wanted to see how far this investment would go. I know lots and lots of people here in Malaysia are greedy and lazy. All people want to earn money but they don't want to work. The type that wants to sit at home doing nothing and money comes from the sky. That is why Malaysian are easy prey for scams.

I have tried making email marketing here in Malaysia. I was promoting a few good products for small entrepreneurs. The products is about handling business, money, stocks and a few others. The product was really good and I was honest in helping them. I send the promotion via email to more than a thousand people.

Not a single item was sold! It is not surprising at first because I thought some of the products are a bit expensive. What really surprised me was the same amount of people dare to spend money on a marketing crap that was posted on the same forum. A blind person also can realize that the ads was a scam.

I want to advise to the people who reads this blog to listen to me. If you want to scam, no matter how stupid you are in scamming, try a Malaysian forum or any website full of Malaysian. Trust me, it is an easy target. One more thing, your ad must be something like this:

"Want to earn big money with small investment?! Email me at Just a small amount to earn big"


"Invest in real estate with our company to gain huge return! Live like in heaven in 7 days guaranteed!"

You will be surprised by how many people will email or call you to join you so-called investment. Correct me if I sound stupid but if there are such investment, would everyone will be millionaires? A simple logic is needed but no one cares. They are blinded by greed.

I am not trying to defend any scams that are gone or still available and I'm also not a fan of such investments but use some common sense. Why wouldn't the government wait for everyone to cash out their investment before shutting the website down? Give the people some time to cash out their money.

In my personal opinion, I think the government doesn't like the idea of moving too much Ringgit outside the country.  That is why the government rush things out to shut down the entire investment websites.

This should be a lesson to the Malaysian people. Greed makes them lost their money and maybe their everything. Look at the millionaires out there. Do you see them not working? They are also working even if it is a few hours a day.

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  1. Is the SwissCash was totally closed ? How Malaysia government banned the company even though the company didn't register in Malaysia. Is Malaysia government has rights in it ?