Thread: New post from HQ's

Regulators from the bank was supposed to be at PIPS on aug 16, this is a visit to convince them that PIPS is on the up and up,how come it is being turned into a fishing expidition ??

I see this as a great thing, it tells me that they are progressing rapidly to getting all the Picpay clean and the rest of the program ready to comply with first the Malaysian SEC and now the Malaysian Central Bank will be able to vouch for PIPS after this audit . THis could mean the restoring of better investment and banking relations and the first major step to free PIPS up to conduct business as usual.

I will wait to see how all theh doom and gloomers will justify their past statements of raids etc when all this is cleared up and PIPS is back on line.

Originally Posted by OU812

Banks can raid offices?

That was going to be my question... Banks can raid offices? :?: :?:

Originally Posted by ryder

Originally Posted by OU812

Banks can raid offices?

That was going to be my question... Banks can raid offices? :?: :?:

They are not in posession of the power to do raids...
LOL
POLICE Business that would be :roll:

This latest "so called" news from Malaysia is just rumours. The Malaysian area had severe storms overnight and several internet interuptions have occurred. These "so called" invasions of PIPS offices DID NOT HAPPEN. This comes from PIPS members who live right there and the PIPS offices are open and very busy.

Originally Posted by Adster

Seaman Stains, Master Bates and Roger the Cabin Boy?! :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Apparently just a rumour. I searched Google & these names were not used. However we all know about Noddy & Zebadee...remember Jasper Carrot telling us?

David
:D :D :D :D

Wake up Admin... you delete my post and you let this BS go on?

Let them play! There is not much else to do for the time being.......

A couple of weeks ago Admin deleted my posts saying this forum is full of rumors yet they let all these posts of rumors go. It does not make sense.

Anti-Money Laundering Act 2001 (Act 613)
The AMLA, which came into force on 15 January 2002 criminalises money laundering of proceeds from the predicate offences and provides for suspicious transaction reporting, record-keeping and the functions of a financial intelligence unit that could co-operate with domestic as well as foreign enforcement agencies. In this respect, the Minister of Finance has appointed Bank Negara Malaysia as the competent authority to carry out the functions of the financial intelligence unit. The law also provides for investigation into money laundering activities, law enforcement agencies to freeze, seize and forfeit proceeds from predicate offences as well as prosecution of money launderers. http://www.bnm.gov.my/index.php?ch=14&pg=17

Not saying this is what has happend but it appears they can.

In following theme of this last post by 675, I see 2 speculative correlations: picpay and the new bank out of Cambodia. The fraudulent merchants are involved with international money laundering, if they did not deliver said products and/or servcies that they contracted to delliver. This puts picpay and PIPS in the firing line of regulatory bodies, such as the Bankof Negara. Secondly, if the bank in Cambodia is still part of the plan, regulatory issues such as picpay fraud would need to be cleared completely in order for any bank operations to commence.

Than again, could just be a thunderstorm.

Disclosure: I have pips and picpay accounts, and continue to be optimistically hopeful.

hogan