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Wednesday, June 18, 2008

Please Ignore Fast Cash Ads on Bus Stops

For the past few months, there have been ever increasing number of advertisements put up illegally on bus stops, near MRT stations, railings, and even at void decks on "How to get fast cash legally at low interest rates". These ads will contain the contact number and the person to contact. Little did they know vandalism act has been breached by putting ads without valid licenses. These people must have got their numbers right and risk calculated, making sure profit is ensured even if fines are imposed for the vandalism act. Don't forget it is not difficult to find these vandals since their contact numbers are left behind.

CPF Board has just announced and advised the public not to take up these "offers". They are against fast cash loan companies. These fast cash companies coax the public into revealing their SingPass account details so CPF monies can be withdrawn for investments. The commission earned from the transaction made through investment are partially returned as an enticement tactic. There is little idea as to where the monies are been invested into and the possibility of it being in volatile high cost funds is definitely high since it will guarantee higher commission for the fast cash loan companies. The victim can end up incurring an overall loss when the CPF monies are returned to his account.

CPF board warns public against fast cash loan companies

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