Investors should exercise caution | GulfNews.com

Investors should exercise caution | GulfNews.com:

"Investors need to carry out strict due diligence before committing to any investment scheme — be it forex trading, savings instrument or any other money-multiplier programme that appears lucrative to them. The latest incident involving more than 200 investors with MMA Forex Online Trading Services is a classic case in point.
The company appears to have a global exposure — at least from its website. But the site does not reveal its physical address or contact details. Its CEO, Malek Naureed Awan, a UK-educated businessman, appears to have had trouble with the law a few times before this incident.
The company invites investors to invest online through its portal, without human intervention, and trade through its online platform. Its website also does not give details of any physical address or contact details — enough to raise eyebrows about its authenticity and credibility. Like most schemes, this allows investors to initially make money and lures them to invest more, before defrauding them. This has almost all the ingredients of a fraudulent scheme. Yet, investors failed to see the loopholes."

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