The names of companies given below are of serious fraud nature. All these companies are either based on Forex, HYIP and so-called helping plans like defunct MMM India.
Names of companies with high risk Unviable Business Plan:
Few things you should keep in mind, while investing in such companies:
- If a company is operating from a foreign soil, then big no to the opportunity.
- Ask for Legal Registration as per Indian laws.
- To swindle money, most fraud companies take help of online gateways such as perfectmoney.com, egopay.com, solidtrustpay.com etc, (we already know what happened to liberty reserve)
- Ask for names and the contact information of owners.
- Ask if payment slip is given after depositing the cash.
As per RBI “Remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), 1999. The reserve bank has also clarified that the existing regulations under FEMA, 1999 do not permit residents to trade in foreign exchange in domestic / overseas market.
Here is the RBI Notification on FOREX: http://networkingeye.com/2011/04/rbi-notification-on-forex-trading/
Recently RBI also cautioned, that if any company, who offers more than 12% return on your investment in a year are of high risk nature and you could also lose your hard earned money as well.
Soon we will publish detail report on some of the above companies. The report will focus, how these companies at the end of their business cycle turns out to be a scam.