Alert: Unauthorised Websites / Investment Products / Companies / Individual, Scams And Fraud

Gold scam by 'Datuk Seri' leaves victims in Malaysia poorer by S$5 million

https://www.youtube.com/watch?v=NedR2bWJge8

Kindly access to the list of unauthorised websites / investment products / companies / individual, scams and fraud in Malaysia and International:

https://www.sc.com.my/list-of-unauthorised-websites-investment-products-companies-individuals/

http://www.bnm.gov.my/index.php?ch=en_fraudarchive&pg=en_fraudarchive

https://my.usembassy.gov/u-s-citizen-services/scams/

http://www.mas.gov.sg/IAL.aspx?sc_p=A

http://www.asiaone.com/singapore/11-scams-are-happening-singapore-now

http://travelscams.org/asia/common-tourist-scams-thailand/

http://www.ambd.gov.bn/Pages/Financial-Consumer-Alert-and-Updates.aspx

https://travel.state.gov/content/travel/en/international-travel/emergencies/international-financial-scams.html

https://www.actionfraud.police.uk/a-z_of_fraud

http://www.news.com.au/travel/travel-advice/health-safety/common-scams-in-the-countries-we-travel-to-the-most/news-story/2047580b87619b84c24082d173a20b78

http://travelscams.org/asia/common-tourist-scams-indonesia/

https://www.mfat.govt.nz/en/countries-and-regions/south-east-asia/thailand/new-zealand-embassy/living-in-thailand/scams-in-thailand/

https://th.usembassy.gov/u-s-citizen-services/common-scams/

http://theindependent.sg/warning-top-scams-to-watch-out-for-when-travelling-in-asia/

https://www.mycert.org.my/en/resources/fraud/main/main/detail/515/index.html

https://www.rmp.gov.my/scam-alert

https://china.usembassy-china.org.cn/u-s-citizen-services/local-resources-of-u-s-citizens/scams/

https://www.scamwatch.gov.au/types-of-scams/unexpected-money/nigerian-scams

https://www.mfa.gov.sg/content/mfa/overseasmission/shanghai/announcements/Press_20160314.html

https://www.fbi.gov/scams-and-safety/common-fraud-schemes

http://ccid.rmp.gov.my/semakmule/index.cfm

http://www.scamnet.wa.gov.au/scamnet/Scam_search.htm

https://www.police.gov.hk/ppp_en/04_crime_matters/ccb/fst.php

https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with/unlicensed-companies-list/h

http://www.hkma.gov.hk/eng/other-information/fraudulent-bank-websites.shtml

https://www.whatsonweibo.com/10-scams-in-china-to-watch-out-for/

http://news.abs-cbn.com/video/business/05/28/15/watch-10-biggest-scams-ph

How To Become A Independent Financial Adviser In Malaysia?

One must pass a series of rigid examinations conducted by either one of the following:

1) Certificated Financial Planner (CFP) issued by Financial Planning Association of Malaysia (FPAM), which is recognized globally.

2) Registered Financial Planner (RFP) issued by Malaysian Financial Planning Council (MFPC), which is recognized locally only.

What is the difference between ACCA and MIA? ACCA is a worldwide recognized Accounting Professional qualification, whereby MIA is a locally recognized Accounting Professional qualification. 

To enroll in CFP courses, the particular person must fulfill the following requirement:

- Possesses a minimum of Bachelor Degree in any faculty of studies.

To enroll in RFP courses, the particular person must fulfill the following requirements:

- At least possesses a Diploma qualification (RFP).

After passing above examinations, the particular person must fulfill all of the requirements:

- Must be a malaysia Citizen.

- Have 3 years financial services experiences.

- At least 21-year-old

- Must be full time practitioner

- Attained a minimum 20 CE and 20 CPD hours on personal development training programs in yearly basis.

Besides that, the person has to obtain the title of CMSRL from Securities Commission Malaysia as Financial Planner and FAR license from Bank Negara Malaysia as Financial Adviser before practicing his/her role as an Independent Financial Adviser.

Those who act as or represent themselves as being "Financial Planners" without an investment adviser’s licence would be in contravention of the licensing requirements under the SIA and would be liable, on conviction, to a fine not exceeding RM1 million or to imprisonment for a term not exceeding 10 years, or to both.

Meanwhile, the term “Financial Adviser” is a restricted word under Section 139 of the FSA. no one shall in name, description or title uses such a word, unless he or she is approved under the (FSA) Act to carry on a financial advisory business. Anyone who contravenes the Act shall on conviction, be liable to imprisonment of up to eight years or fined not exceeding RM25 million, or both.



What is the different between Licensed Financial Adviser / Licensed Financial Planner with Unit Trust Consultant and Insurance Agent?

	Financial Planner & Financial Adviser	Insurance Agent	Unit Trust Consultant	Private Retirement Scheme Consultant
Represent	Customer	Insurance Company	Unit Trust Company	PRS Company
Approved / Registered by	Bank Negara (BNM) = Financial Adviser Securities Commission Malaysia (SC) = Financial Planner (CMSRL licensee)	PIAM (General Insurance) LIAM (Life Insurance)	FiMM	FiMM
Function	Offer professional financial planning advisory services to suit client’s personal finance need(s) from - wealth creation - wealth accumulation - wealth preservation & - wealth distribution S/he will research from multiple life & general insurers, multiple unit trust companies, multiple PRS providers, various local and overseas investment facilities, Will writing, and bereavement.	Salesperson for a single Life Insurance products. Salesperson for 2 general insurance products.	Salesperson for a single unit trust products.	Salesperson for a single PRS products.
Minimum Entry Requirement	Bachelor’s Degree, Passed CFP Certification / RFP Certification (240hours of lecture and 14 hours of exam in English language) Minimum 3 years of relevant experiences in financial services industry	Minimum with 3 credits in SPM and passed CPE (2 hours computerized exam in English language, Bahasa Malaysia or Mandarin Language)	Minimum with 3 credits in SPM and passed CUTE (2 hours computerized exam in English language, Bahasa Malaysia or Mandarin Language)	Minimum with 3 credits in SPM and passed CPRE (1.5 hours computerized exam in English language, Bahasa Malaysia or Mandarin Language)
Transparency Of Propose Solution	Impartial views and choices by evaluating the Pros and Cons of solutions or products.	Biased views without choice by just providing pros of product only.	Biased views without choice by just providing pros of product only.	Biased views without choice by just providing pros of product only.
Continued Education	SC (20hours), BNM (20hours), FiMM, FPAM (20hours) / MFPC (20hours)	LIAM (30hours)	FiMM (16hours)	FiMM (16hours)

References:

https://mfpc.org.my/education/registered-financial-planner-rfp/

http://www.kmdc.com.my/cfp/certified-financial-planner.html

http://www.thesundaily.my/news/1065338

https://www.thestar.com.my/business/business-news/2017/04/21/malaysia-needs-more-certified-financial-planners/

https://www.finews.asia/finance/24434-malaysia-wealth-management-private-wealth

https://en.wikipedia.org/wiki/Financial_Planners_in_Malaysia

https://www.youtube.com/watch?v=6T2Rbskz_aA

https://www.youtube.com/watch?v=bc-JSXFjvFI

Private Managed Account (PMA)

Private Managed Account (PMA) is a specifically managed investment account, which is designed for individual, corporate and institutional investors to attain their financial goals such as retirement funds, children education funds, emergency funds and etc.

Under this PMA product, a professional fund manager is assigned to actively manage, monitor and review client’s portfolio as per client’s risk profile and investment needs. Investors can access to the latest investment performance, decision, and news through the portal of client account.

Our company is one of the top performer in PMA. Investor can invest PMA via Cash and EPF Member's Account 1 withdrawal. The minimum amount to setup the cash account of PMA would be RM50,000.

Meanwhile, for the minimum setup amount for PMA investment via EPF Account 1 withdrawal would be RM5,000 with the commitment of RM30,000. PMA resembles a regular savings scheme, whereas it invests in a steady growing blue chips with high dividend yield.

According to analysts, it would be challenging for (EPF) Pension Funds to sustain dividend payouts of above 5% in the future. In long run, the Pension Fund’s performance will be determined by those returns from low-risk investments such as government bonds. Pension Fund invested almost 40% of the managed funds in bonds and loans. These type of investments have experienced dwindling yields. (The Star, EPF returns on the slide, 19 March 2009).

Nowadays, insufficient savings to support the high cost of living and medical costs during retirement have become a serious issue (New Straits Times, Self-funding your retirement, 11th January 2018). MHAS president, Professor Dr Philip George stated that the majority of retirees exhaust their EPF savings within three to five years, which can demolish their standard of living and quality of life (Malaysian Reserve, Malaysia needs to address challenges on ageing population, 27th March 2018). Due to those unexpected phenomena, why do not you give a chance for yourself to invest in PMA. Since, PMA investment might be able to offer you an opportunity to earn better return than Retirement Fund. Prepare umbrella before rains, prepare sufficient retirement fund before retires. So that, you may attain leisure lifestyle and enjoyment during your retirement.     

References:

https://www.thestar.com.my/business/business-news/2017/10/25/most-malaysians-cannot-afford-to-retire/

http://www.todayonline.com/world/asia/78-malaysians-do-not-have-enough-funds-retirement

https://www.youtube.com/watch?v=g7NHgIaMH7Y