PBK chief: Beware of financial scam promising medical, funeral benefits with membership, deposit upfront

Voon Lee Shan (file photo)

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KUCHING, March 8: The public are warned to be wary and not to buy into financial or investment scams that requires one to sign up for membership and a small deposit upfront in order to enjoy certain benefits or services, including funding for medical and funeral expenses.

Parti Bumi Kenyalang (PBK) president Voon Lee Shan claimed that there is currently such a “registered” company operating in Sarawak and many people including from Sabah, Indonesia and Brunei have fallen for their tricks as they promise good investment returns.

“Certificates were issued and many (have) received monies for treatment and funeral expenses after joining as members.

“These businesses may look genuine with their companies registered under the Companies Act and have proper licences.

“But if they are asking for an upfront deposit, please be wary about it. They are not banks as only banks are allowed to take deposits with interest (rates) in return,” he warned in a statement today.

Voon added that this suspicious company would also allow its members to participate in investment businesses that the company undertakes and to convince the public to join, they even distribute brochures with photos of celebrities as well as well known business figures and politicians who were alleged to have joined the company.

“Often out of embarrassment and fear of harassment, victims of scam prefer to keep silent rather than seeking help or reporting the matter to the authorities,” he said.

While he noted that it may be difficult to identify if a company is a scam or genuine business, Voon strongly advised people to check with police, especially the Commercial Branch Department, and Bank Negara Malaysia (BNM) when in doubt of the legality or operations of a company. — DayakDaily