Securities Commission and Bank Negara Malaysia caution public against internet investment schemes - Advise public to invest with licensed parties only

Securities Commission and Bank Negara Malaysia caution public against internet investment schemes - Advise public to invest with licensed parties only

The Securities Commission and Bank Negara Malaysia today cautioned members of the public to be on guard against investment scams promoted on the Internet.

Some companies and websites offering internet investment schemes are not licensed by Bank Negara Malaysia to accept deposits. They are also not licensed by the Securities Commission to provide investment advice that is related to securities or futures activities or carry out fund management activities in Malaysia. Such activities often come in the guise of attractive investment returns or opportunities.

Investors can ascertain the licensing status of financial institutions engaged in deposit-taking activity regulated by Bank Negara Malaysia or individuals and companies engaged in investment activity regulated by the Securities Commission at their websites www.bnm.gov.my and www.sc.com.my respectively.

Members of the public are reminded that they should only place deposits and invest with parties licensed by the authorities so that they are accorded the protection under the banking and securities laws. Unlicensed operators may disappear overnight leaving investors without the ability to recover their investments or seek redress against any persons connected with the scheme.

It is important for the public to be alert and responsible in making investment decisions as the internet offers easy access for unscrupulous persons to lure unsuspecting victims to part with their monies. Investors are urged to verify the legitimacy of schemes which offer too-good-to-be-true returns or investment opportunities involving above-market rates of return and zero to low risk. They must obtain all relevant information before parting with their money over the internet.

When in doubt, the public should check with Bank Negara Malaysia, the Securities Commission or other relevant authorities on the licensing status of the local and foreign company before depositing their money or making any investment decision.

Members of the public are also advised to alert the authorities immediately if they come across any suspicious websites, e-mails or any information on the Internet relating to investment advice and services and deposit taking activities. They can contact the Securities Commission and Bank Negara Malaysia at:

Complaints Department, Securities Commission
Tel: 03-6204 8999 / 03-6204 8777
Fax: 03-6204 8991
E-mail: aduan@ seccom.com.my

Bank Negara Malaysia
Tel: 03-2691 0824 / 2692 6482 / 2698 2810 / 2694 2143
Fax: 03-2698 7467
E-mail: info@ bnm.gov.my

Jointly issued by
Bank Negara Malaysia and Securities Commission
19 April 2007

I Dont Need A Financial Coach To Help Me!

You've been thinking that your financial life could probably be better, right? Maybe you think, "If I could just stick to a budget everything will be fine?", or how about "When I get that next raise or promotion, I'll have enough money to pay off my debts and save some money?" You may even be thinking,"I can do this on my own!"

I hear these comments and more on a regular basis. I usually say, "Great! Can you think of any reasons your financial life isn't perfect right now?"

It's really your "little voice" which is prompting you to say all these things! Your little voice has a job to do and that is to protect you from any change because it "knows" that change will be hard or scary or cause more work and it's just easier to keep things the way they've always been. Your current situation is something you already know and even if you don't like it, you at least know what you already have.

Or maybe you feel it's all up to you and it's weak to have other people help you, especially when it comes to money. Besides, you might think, I'll probably have to pay to get help!

People who challenge these thoughts and hire a financial coach find that their attitudes toward "getting help" changes dramatically within a couple of weeks. You'll find someone you can tell everything to, literally. Your hopes, fears, dreams, problems - the whole lot and you can even drop the image that your life is perfect, that you know it all and that you can do it yourself.

The first thing you'll notice is that your coach won't judge you. You'll be accepted as you are, even if there is room for improvement. You'll find someone who will truly hear what you say and support you in your efforts to be an excellent money manager.

You'll feel your dreams are something to be valued and you'll encouraged to clarify them and move towards them. You'll be asked challenging questions, you'll think bigger, be clearer about the role of money in your life, and you'll consider other possibilities!

Because coaching is a professional relationship, you'll be working with someone who isn't just going to say "yes" to you. You'll know your coach has your best interests at heart when she challenges you. Your coach can help you see big picture when you get bogged down in the detail or run into difficulties. She'll open up your thinking so you can see you are capable of more than you see for yourself. You'll be encouraged to truly be your best, particularly when you are inclined to stop short of doing what's possible for you.

Your little voice will be very happy to protect you from these wonderful experiences, especially if you've never experienced the opportunity to work with someone who is on the same playing field as you, open to brainstorming ideas and continually moving you forward. Your inner voice protects you from growing and being outside your comfort zone. Your little voice tries to stop you doing something, whether through fear or pretending you don't need to do it. Your little voice is useful when it protects you from danger such as putting your hand in fire.

And, remember your little voice is extremely clever and powerful; after all it's had a lot of practice! It will keep trying to find a way to stop you. You can be quick to identify your inner critic getting in the way, and it will find another way of stopping you. We've become so accustomed to letting our inner self rule our lives that we tend to see it as normal, never questioning whether it's healthy for us.

This inner critic can kick in when you think about getting the help you need and making changes that will improve your finances. "I don't need 'help'; I can do it myself!" you'll hear it say. Getting financial help may suggest that you aren't capable, you have something missing, or you are just plain lazy or stupid.

You'll quickly realize that a coach doesn't 'help' you. A coach sees you as a whole person who is capable of unbelievable things. They don't hold your hand like a child and they're normal human beings who aren't perfect. They act as a sounding board, an objective observer, offer a safe place to learn new information about money and answer questions you've never been able to ask anyone else. They see things clearer than you do because they step back and aren't caught up in your daily routine. You can take more responsibility when encouraged by a coach.

Coaching will give you the opportunity to stop and reflect, gather your thoughts, sort out your priorities and focus for the coming week. The dynamics of two people working together are greater than the sum of the individuals.

What is your little voice stopping you from doing, which could be extremely beneficial for you? Write down what your mind is saying, because seeing it in black and white allows you to see more clearly.

What could your life look like right now if you'd had this kind of help when you were just starting out? What will happen 20 years from now, if you keep listening to your little voice? What are you waiting for?!?!?

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion. Call Me Crazy! I love It!

Why, who wouldn't love getting paid to buy products that they use everyday?

Here's how I do it.

I purchase an item that has a rebate offer (either a store or manufacturer rebate) while it is on sale and use a coupon during purchase. That's it! Using this formula I almost always come out ahead. When all is done, I've gotten back more than I actually paid for the item.

Even when I do have to pay for the items like deodorant, shampoo, soap, toothpaste, and toothbrushes it's about 50 cents for a item that would cost up to $2 -$4 originally.

Am I the only one out there that gets excited about this? I doubt it! At least I hope not. That would make me "Crazy", wouldn't it? But a lot of folks just don't know how to combine money saving measures to maximize savings.

My local drugstore (which by the way is a national chain) often advertises items free after rebate. Hey, that cuts down on a lot of work for me. Easy Money! I e an also lucky enough to have a grocery store in my area that offers rebates and offers double coupons (sometimes even doubling $1 coupons as a special promotion). Needless to say, with six mouths to feed (myself, my husband, and four kids) I'm lovin' that idea!

As the editor of www.simpledebtfreeliving.com, I'm always looking for new ways to save money. Visit us and follow one of the e-mail links to share your ideas or just let us know how excited you get about frugal living! Let me know I'm not the only one. Then we can put my family's worries to rest. They think I'm really crazy.

Here are a couple other ways that I save on items we use everyday:

1. Always use items that are reusable rather than throw away

For example: Reusable coffee filters, cups and plates, and my favorite pet peeve -

The great sandwich bag conspiracy

The major manufacturers of sandwich bags would lead us to believe that it takes rocket science to keep a sandwich fresh. Ask yourself this, How long do you need to keep that sandwich fresh anyway? It's not like it's going to the moon. It's just going to the office or school for a few hours.

The most practical way to approach this is to purchase reusable sandwich size containers. This is also very environmentally friendly reducing a great deal of waste. If however, these have trouble finding there way back home ( which is likely if you have children), you can save substantially if you purchase the plain old pleated sandwich bag that cost a mere fraction of the razzle dazzle zipper kind. Your mother used these for years and years with great success. I have used both methods for years and have never received a complaint of a stale sandwich!

You'll find that doing these little things like, using real cups and plates instead of paper or plastic throw away, and recycling containers for storage or even to use in craft projects, can save a lot of money. Each by itself may seem minor, but when put together amount to tremendous savings over time.

2. Don't buy it if you won't use it. Things like small kitchen appliances, repair tools, and gardening tools are good examples. We know they'll make our life easier if we just had the opportunity to use them.

There are 101+ small countertop kitchen appliances available to chop it, grind it, mix it, open it, bake it, grill it..well you get the message.

Simplify your life and narrow it down to a couple you just can't live without. For me it's my blender and my food processor. Although, I'm seriously considering a bread maker. Not quite sure if it's worth the money yet. Especially when I'm so close to a bread outlet. But, you can't beat the taste of fresh baked bread. I'm not counting the coffer maker it's kind of standard equipment these days. I wouldn?t dare ask you to give that up! What am I crazy? Well , maybe..

It's little things like the example above that identify frugal living.

3. Always get the best value for your money. Shop around. If this is a major purchase you will want to know what to look for. Research and compare products on the internet or in sale flyers. There's nothing more challenging to the retailer than an informed consumer. That's what you want to be. An informed consumer knows when it's a good value! Informed Consumer - More Savings