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Virgin Gold Scam
The other day, my friend was asking me what I thought about this investment from a company known as Virgin Gold. One of his colleagues is an investor and has recommended it to him. The way Virgin Gold was set up, it was blatantly obvious that it was a ponzi scam. According to the website, Virgin Gold […]
MAS Restricts Loan Tenure for Residential Properties
Just a couple of days after I wrote about Singapore’s increasing property prices and my expectation of more property cooling measures, the government has stepped in with some new measures. Yesterday, MAS announced that there will be a limit to the maximum tenure of loans for the purchase of residential properties. The maximum tenure of all new […]
Of 50-Year Loans and Instant Loan Approval
Being the first to bring innovation can sometimes have it’s pitfalls. UOB was the first bank to offer a housing loan of up to 50-years tenure last month. They also offered on the spot approval for loan application made at showflats. Shortly after the “instant loan approval” scheme was reported in the newspaper, MAS moved […]
Launch of Institute for Financial Literacy
Yesterday, the MoneySENSE Financial Education Steering Committee and Singapore Polytechnic (SP) launched the Institute for Financial Literacy (IFLS). The Institute aims to build core financial capabilities across a broad spectrum of the Singapore population. As the IFLS is a full-time dedicated effort in financial education, it will be able to deliver financial education to the public […]
MAS Mystery Shopping Exposes Gross Deficiency
Back in October 2011 to December 2011, MAS conducted a mystery shopping survey on the financial advisory process of banks and insurers. In case you are not aware, a mystery survey is an undercover exercise which involves people posing as “fake” customers to test how someone provides a particular service. For this particular survey, the […]