SIAS warns against pyramid-type ‘Nanning scheme’ investment arrangements

The warning comes after 52 Singaporeans were arrested and detained in China over suspected pyramid scheme activities and related offences.

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SINGAPORE: The Securities Investors Association (Singapore), or SIAS, has warned members of the public against investing in pyramid-type investment arrangements under what is commonly referred to as the “Nanning Scheme”.

The scheme, along with similar schemes, promises exceptionally high returns with low risk through recruiting new participants, SIAS said in a statement on Friday (Sep 4).

The warning comes after 52 Singaporeans were arrested and detained in China over suspected pyramid scheme activities and related offences, Singapore's Ministry of Foreign Affairs (MFA) and police said on Friday.

A CNA investigation in Singapore found that recruiters had pitched the investment potential of Guangxi, especially the city of Nanning, to prospective investors in Singapore.

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Potential investors were told they could join at different membership tiers requiring varying upfront payments. The investigation found that they were also encouraged to identify and recruit prospective members in Singapore. SIAS said that reports of such schemes describe investors being introduced to supposedly exclusive investment opportunities overseas. Potential participants may be invited to travel overseas to countries such as China to hear presentations and meet existing investors. Promoters may claim to have secret connections to government officials or say the investments are linked to government-backed projects or economic development programmes. “Investors should also beware that scammers can impersonate government officials by using sophisticated tools such as artificial intelligence,” SIAS said. The association urged investors to exercise extreme caution, noting that "if an investment opportunity sounds too good to be true, it probably is, and more often than not, it is likely to be a scam”.

Potential investors were told they could join at different membership tiers requiring varying upfront payments. The investigation found that they were also encouraged to identify and recruit prospective members in Singapore.

SIAS said that reports of such schemes describe investors being introduced to supposedly exclusive investment opportunities overseas.

Potential participants may be invited to travel overseas to countries such as China to hear presentations and meet existing investors.

Promoters may claim to have secret connections to government officials or say the investments are linked to government-backed projects or economic development programmes.

“Investors should also beware that scammers can impersonate government officials by using sophisticated tools such as artificial intelligence,” SIAS said.

The association urged investors to exercise extreme caution, noting that "if an investment opportunity sounds too good to be true, it probably is, and more often than not, it is likely to be a scam”.

PYRAMID SCHEMES UNSUSTAINABLE

Investors should be particularly wary of investment opportunities that promise extraordinary or virtually guaranteed returns, or whose underlying businesses cannot be independently verified, SIAS said.

They should also be cautious of schemes that encourage participants to recruit friends, relatives and acquaintances in exchange for unusually high commissions or advancement through different levels of an organisation.

A scheme is not necessarily legitimate simply because it has supposedly operated for many years, or because some participants may have initially received payments.

This is because “one of the defining characteristics of Ponzi- and pyramid-type arrangements is that early participants may receive money funded by later participants,” SIAS said.

Such payments can create the impression that an investment is genuine and encourage existing members to introduce others to the scheme.

This becomes unsustainable when the flow of new money slows or stops and the entire pyramid structure collapses, SIAS explained.

Investors should also be extremely wary of claims that an opportunity is connected to a government agency or major national development project but is supposedly available only to a privileged group of individuals, the association said.

A genuine government-backed investment should be capable of independent verification through official channels.

Investors should never accept photographs, presentations, documents, testimonials or statements made by recruiters as sufficient proof.

“SIAS is particularly concerned when recruitment takes place through personal relationships,” the association said.

Investors naturally place greater trust in friends, colleagues and family members, the association noted.

“However, the person recommending the investment may himself genuinely believe in the scheme and may not realise that he has become part of the mechanism through which new participants are recruited,” SIAS said.

“Remember: friendship is not due diligence.”

Before transferring any money, investors should ask who is holding their money, how returns are generated, whether the investment is regulated and whether they can withdraw their funds freely, SIAS said.

“If satisfactory and independently verifiable answers are not available, investors should walk away and not stay because they are tempted by high returns,” SIAS said.

“Investors should investigate first, verify independently and never allow greed, secrecy, friendship or pressure to override common sense.”

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此前，52名新加坡人因涉嫌参与传销活动及相关罪行在中国被捕拘留。

一张库存照片，展示了一个人正在使用智能手机进行在线交易。（图片来源：iStock）

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新加坡：新加坡证券投资者协会（SIAS）警告公众不要投资于俗称“南宁计划”的金字塔式投资安排。

新加坡投资促进局（SIAS）在周五（9月4日）的一份声明中表示，该计划以及类似的计划承诺通过招募新参与者来获得极高的回报，同时风险很低。

新加坡外交部和警方周五表示，此前有52名新加坡人因涉嫌参与传销活动及相关罪行在中国被捕和拘留。随后，当局发出警告。

新加坡亚洲新闻台（CNA）的一项调查发现，一些招聘人员向新加坡的潜在投资者推销广西，特别是南宁市的投资潜力。

CNA游戏猜词游戏：逐行破解单词；流行词游戏：用给定的字母组成单词；迷你数独：小巧的谜题，强大的脑力挑战；迷你填字游戏：小网格，大挑战；单词搜索：尽可能多地找出单词。显示更多 显示更少 潜在投资者被告知，他们可以选择不同的会员级别，需要预付不同的费用。调查发现，他们还被鼓励在新加坡寻找并招募潜在会员。新加坡投资者协会（SIAS）表示，此类骗局的报告描述投资者被介绍到所谓的海外独家投资机会。潜在参与者可能会被邀请前往中国等国家，听取推介会并与现有投资者会面。推广者可能会声称与政府官员有秘密联系，或者说这些投资与政府支持的项目或经济发展计划有关。新加坡投资者协会表示：“投资者还应警惕，诈骗分子可以使用人工智能等复杂工具冒充政府官员。”该协会敦促投资者务必格外谨慎，并指出“如果一项投资机会听起来好得令人难以置信，那它很可能就是假的，而且通常情况下，它很可能是一个骗局”。

潜在投资者被告知，他们可以选择不同的会员级别，所需的预付款也各不相同。调查发现，他们还被鼓励在新加坡寻找并招募潜在会员。

新加坡投资协会（SIAS）表示，有关此类骗局的报道描述了投资者被介绍到所谓的海外独家投资机会。

潜在参与者可能会被邀请前往中国等国家，听取报告并与现有投资者会面。

发起人可能会声称与政府官员有秘密联系，或者说这些投资与政府支持的项目或经济发展计划有关。

“投资者还应注意，诈骗分子可以利用人工智能等复杂工具冒充政府官员，”新加坡投资协会表示。

该协会敦促投资者务必格外谨慎，并指出“如果一项投资机会听起来好得令人难以置信，那它很可能就是假的，而且通常情况下，它很可能是一个骗局”。

金字塔骗局是不可持续的

新加坡投资协会表示，投资者应特别警惕那些承诺提供非凡或几乎保证回报的投资机会，或者那些其基础业务无法进行独立核实的投资机会。

他们还应该警惕那些鼓励参与者招募朋友、亲戚和熟人，以换取异常高的佣金或在组织中晋升的计划。

一项计划并不一定合法，仅仅因为它据说已经运作多年，或者因为一些参与者最初可能收到了付款。

新加坡亚洲研究所表示，这是因为“庞氏骗局和金字塔骗局的一个显著特征是，早期参与者可能会收到由后期参与者提供的资金”​​。

此类付款可能会给人一种投资是真实存在的印象，并鼓励现有成员将其他人介绍到该计划中。

SIAS解释说，当新的资金流动放缓或停止，整个金字塔结构崩溃时，这种情况就变得不可持续了。

该协会表示，投资者还应格外警惕那些声称某个机会与政府机构或重大国家发展项目有关，但实际上只对少数特权人士开放的说法。

真正由政府支持的投资应该能够通过官方渠道进行独立核实。

投资者绝不应将招聘人员提供的照片、演示文稿、文件、推荐信或声明视为充分的证据。

“新加坡会计师协会（SIAS）尤其关注通过私人关系进行招聘的情况，”该协会表示。

该协会指出，投资者自然更信任朋友、同事和家人。

“然而，推荐投资的人可能真心相信该计划，并且可能没有意识到他已经成为招募新参与者的机制的一部分，”新加坡投资协会表示。

“记住：友谊不是尽职调查。”

新加坡投资协会（SIAS）表示，投资者在转移任何资金之前，应该询问谁在持有他们的资金、收益是如何产生的、投资是否受到监管以及他们是否可以自由提取资金。

“如果无法获得令人满意且可独立验证的答案，投资者应该退出，不要因为高回报的诱惑而继续持有，”新加坡投资协会表示。

“投资者应该先进行调查，独立核实，绝不要让贪婪、秘密、友谊或压力凌驾于常识之上。”

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