Thread: Warning from Bank Negara.

Searching the Bank Negare site, I found this warning this morning:

Warning on Swiss Cash or Swiss Mutual Fund

Bank Negara Malaysia and Securities Commission of Malaysia would like to inform members of the public that Swiss Mutual Fund, the company that is promoting the Swiss Cash fund, is not licensed or exempted from licensing by Bank Negara Malaysia to accept deposits nor is it licensed by the Securities Commission to carry out asset management activities or services in Malaysia. Swiss Cash fund promoted by Swiss Mutual Fund has not been approved nor endorsed by the Securities Commission.

Swiss Cash fund is an internet-based investment program promoted by Swiss Mutual Fund, a fund management company claimed to be registered overseas, and the investment opportunities in the fund is offered through the Internet and local agents.

Members of the public should only invest through parties that have been licensed by the authorities. When in doubt, the public should check with Bank Negara Malaysia, the Securities Commission or other relevant authority on the licensing status of the local or foreign company before making any investment.

Members of the public may contact the Securities Commission and Bank Negara Malaysia for enquiries on the fund:

Complaints Department, Securities Commission
Tel: 03 6204 8999
Fax: 03 6204 8991
E-mail: [email protected]

Bank Negara Malaysia
Tel: 03 2691 0824 / 2692 6482 / 2698 2810 / 2694 2143
Fax: 03 2698 7467
E-mail: [email protected]

Bank Negara Malaysia
Securities Commission
5 September 2006


Bank Negara Malaysia
5 September 2006

http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1299

whats the big deal? its just an advice. and thanks for telling me. It's my money. :)

Members of the public should only invest through parties that have been licensed by the authorities.

Originally Posted by summeromeo

whats the big deal? its just an advice. and thanks for telling me. It's my money. :)

Ask Bryan Marsden and the rest of the members in the PIPS family about what the big deal with BNM is.

It (swisscash) is NOT a division of Swiss Mutual 1948. And still they will not answer that point over their credibility.Their "office" in New York doesn't exist.Try knocking on the physical door.

Of course, the choice is free and I am pleased if our friends are making money, BUT, it is NOT what it claims and so I'm out.

Originally Posted by kingpau

Ask Bryan Marsden and the rest of the members in the PIPS family about what the big deal with BNM is.

well, Mr BM n gang had an office in Malaysia plus they used a local bank to accept deposits so that is how BNM got them
dont see anything remotely similar operationally with SC
BNM has no choice but to issue this statement so as to be 'socially responsible'

finally there are many other threads where this 'warning' applies. i would say almost all programs listed here and other forums are ponzis (in part or in whole) so if legality is an issue, i would suggest that these forums are not appropriate

The Malaysian Government at least is Not As Intelligent as the Chinese Government.

Recently, as many as 15 Chinese commercial banks, of which 3 are among the to 10 biggest banks in Asia including Japan have joined the SwissCash.
They are" Tripling" their "deposits" with SC, thus "HELPING" the Chinese Government earn the much needed "Foreing Reserves" without any risk and.
The Malaysian Government should realize that the Malaysian SC members are , in fact, "helping" their Government to earn " foreign reserves", thus contributing to the country`s economy. The below is a screenshot from the "Investor" page:

quote:
什么是SwissCash网上银行转账系统？


SwissCash 网上银行转账系统，是指 SwissCash 通过因特网平台设立的，连接到银行网站为会员提供各种金融业务的网上服务系统。


SwissCash网上行银行转账系统提供什么服务？

网上转账：
拥有以下银行的银行卡或者VISA卡，开通网上支付功能就可以用我们的网上银行转账系统进行转 账了。
unquote:

pinetree

Originally Posted by DJALLEN

It (swisscash) is NOT a division of Swiss Mutual 1948. And still they will not answer that point over their credibility.Their "office" in New York doesn't exist.Try knocking on the physical door.

Of course, the choice is free and I am pleased if our friends are making money, BUT, it is NOT what it claims and so I'm out.

You are wrong. SwissCash is an on-line subsector of Swiss Mutual Fund(1949).

Quote:
-------------------------------------------
Originally Posted by mxxxxxxxxxn
"Someone tried that already. The number was directed to a guys cell phone. He was very dodgy sounding and said he had no information on the company and would call back, and never did"

It is very strange. I also called this number 212-386-5570 and a lady who answered the phone told me that it is the office of SwissCash and Swiss Mutual Fund although she is not connected with these companies. She said the staff in charge is not in. I asked the time in NY. The lady said it is 5 am.
She also said that she can take a message and someone will make a call back.

I am very confident that Swiss Mutual Fund 1948 and SwissCash.biz are real.

Anyway, I am already in with 1000usd investment and have receieved the monthly payout on time.

XX
unquote:

pinetree

If they are suppose to have an office in New York let me have it, i live in New York maybe ill check it out.

It is said that there are about 47,000 "mutual funds" operating "offfshore". It is also said the Best 10 Performing Funds are Mostly "offshore". How Crazy It Is For The Malaysian Central Bank To Try To Impose Some Kind Of Control Over So Many Mutual Funds "Offshore" In Order To Protect The Malaysian Counterparts. Read The Article Below:

Global Mutual Fund Investor

The Best Performing Mutual Funds in the World Are Now Available to You
The U.S. mutual fund industry doesn't want you to know about its overseas competition. With good reason -- eight of the top ten performing funds in the world over the last five years were offshore funds. Yet your broker couldn't recommend a single one of them. What's more, Wall Street and the SEC have set up hurdles that make it nearly impossible for you to even find out about the world's best offshore funds. They've made it illegal for many of the world's 47,000 offshore funds to even advertise in U.S. media or mail.
But as an independent global analyst Eric Roseman can tell you all about the world's best fund opportunities. And that's what he does every month in Global Mutual Fund Investor (GMFI). Eric has written GMFI since 1992 and is recognized as one of the world's leading authorities on offshore mutual funds, he'll help you find the best performing funds available today like...
The Foreign & Colonial Investment Trust, which has earned 12% per annum over the last 137 years! ... AHL Diversified, sailing through the bear market unscated, with 15% annual returns since 2001... Orbis Global Equity, compounding at 21% a year since 2003... and funds taking advantage of the most explosive sectors and fastest growing regions in the world, including Tradewinds LP, up 375% since 2001... Equinox Partners, up 733% in the same time... and the Russian Opportunities Fund, up 848% in the last five years!
Eric has just prepared his list of the Five Best Funds for the Next Five Years. The profit potential could rival the 375% to 848% of the best performers of the last five years. But it's information you'll only find in Global Mutual Fund Investor.


pinetree

Anything coming out of BNM or Malasia is suspect. I have no faith or trust in their system. If they say swiss cash is a scam....I think I'm going to get in!! If you want to track down the real theives, go knock on these guys doors:

Complaints Department, Securities Commission
Tel: 03 6204 8999
Fax: 03 6204 8991


Also the CAD out of SG!! Talk about scamming thieves!!


Swiss cash.....here I come!! LOL!