SwissCash.biz

KUALA LUMPUR: If you have stumbled onto the Swiss Cash or Swiss Mutual Fund website, which is making an aggressive sales campaign here, it is best to be cautious.
The two companies are not Swiss-registered firms.
The Swiss embassy here has warned the public that the two companies have no relation to their country.
“Sometimes, companies use the word 'Swiss' or images of the Swiss flag to associate themselves with the reputation of Swiss companies.”
The statement said the two companies are not subjected to Swiss law and therefore the public should be careful when investing in such funds.
Read more on: http://thestar.com.my/news/story.asp?file=/2006/9/3/nation/15323129&sec=nation

ALOR STAR: An amendment to the Consumers Protection Act 1999 will be made by December or early next year to allow consumer cases to be heard under the recently approved Electronic Commerce Act 2006.
Domestic Trade and Consumer Affairs Ministry Deputy Minister Datuk S. Veerasingam said the ministry would table the amendment in Parliament.
Veerasingam said the amendment would protect consumers from being cheated in electronic trading.
Veerasingam said the ministry had summoned the agent in the country running the Swiss Cash or Swiss Mutual Fund (1948) get-rich-quick scheme on the Internet for questioning.
He said the ministry was conducting investigation into the alleged get-rich quick scheme and the person involved could be charged under the Money Laundering Act.
A newspaper report yester- day reported that more than 50,000 people were cheated of a total of RM190mil or RM3,800 each for a chance to earn 30% profit by taking part in the scheme.
Read more on: http://thestar.com.my/news/story.asp?file=/2006/9/6/north/15343205&sec=north