It’s The End of The Road for Swiss Cash & Other Get Rich Quick Schemes
Posted on 12th June, 2007
As announced by the Malaysian Securities Commission (SC) recently, they have now started to block access to several illegal investment scheme websites. This measure started yesterday, Monday 11 Jun 2007. At the time of this writing, the popular ones such as SwissCash.net and SwissMutualFund.Biz are no longer accessible from within Malaysia.
If data from Alexa.com can be taken into account, Malaysian is by far the largest group of investors in Swiss Cash
Without them, the scheme is already dead. I believe the majority of these investors do not know how to use proxy servers to get around this restriction. Without fresh money coming in – it’s the end of the road for Swiss Cash.
However last time I checked via a proxy, SwissCash.Net seemed to have difficulties serving their pages – perhaps an indication that it’ll be shut down soon by the operator?
If Swiss Cash could get out of this debacle unscathed which I doubt it will, that will count for something. I tend to believe that like all get rich schemes which depend on new money coming in to pay old investors, in the current state Swiss Cash will die soon, real soon.
This will ultimately prove that Swiss Cash is just another scam. The investors just did’t know it.
If you have question regarding SC’s move, please refer to their FAQ
Check out SC’s alert list here.
While I appreciate SC’s effort to stamp out those get rich quick websites, I think blocking websites is not the solution to the problem. Some people need to see how get rich scheme websites operate and without the access to such information, new investors won’t be able to differentiate between legal and illegal ones when new schemes crop up. Of course it’ll get harder for the operators to become establish but censorship won’t eliminate the such schemes.
What happen to the Government’s guarantee not to censor the Internet?
“KUALA LUMPUR March 16 – Prime Minister Datuk Seri Dr Mahathir Mohamad has advised the Cabinet to dispense with attempts on internet censorship, said Multimedia Development Corporation (MDC) executive chairman Tan Sri Dr Othman Yeop Abdullah today.
‘The Prime Minister has given specific instructions that there will not be censorship on the internet. That’s the position of the government,’ he said at a press conference.
He explained that the Prime Minister was reaffirming a pledge in the Bill of Guarantee last week that there will be no censorship on the internet.
OK, that’s what the ‘previous’ government said. But still…
Anybody from Malaysia Super Corridor (MSC) can access those websites?