GREED and a get-rich-quick mentality are usually the reasons that people are defrauded, according to police.
Superintendent Ng Sai-kuen of the Commercial Crime Bureau will speak at the Money World Asia Public Forum about the pitfalls that investors can be lured into by conmen.
'Very often people are too trusting,' Superintendent Ng said. 'I recommend that people be extremely cautious when making investments and really think about what they are doing.' The Commercial Crime Bureau has come across many people who have fallen foul of the law after entering into a partnership.
'We have had cases where people have been offered what seemed like a good business opportunity: all they had to do was invest some capital.
'Later, it was discovered the money they invested was not used for lawful business but things like illegal gambling, unlawful lending by loansharks and for buying stolen goods.' Partnerships involving business deals and land development overseas can be a risky venture unless the investor really knows what he or she is doing, according to Superintendent Ng.
'Quite simply: stick to the business you know. Beware of requests for money after being given verbal promises that your partner has got some special kind of connections and always check and then double check any documents before you sign them.
'Never accept photo copies in place of an original contract and make sure that the business opportunity really exists. All too often people just hand over their money thinking it will be doubled overnight only to find that they have lost everything.
