I read a news report that a person was sent to jail for pretending to be the owner of a travel agency operating a popular website and collecting money for a package tour from the victim. This is the offence of cheating.
Cheating is a crime that is punishable by a jail sentence. It involves misrepresentation (e.g. pretending to be somebody else) and collecting money from a victim. Actually, the crime is more broadly defining as taking any property (and not just money) from the victim.
It is easy to prove misrepresentation when the offender pretends to be somebody else. But there are other forms of misrepresentation, such as misrepresenting the value of a product that is sold (e.g. selling gold bar, wine or land plots at inflated prices) and giving a unjustified projection of their further appreciation in value.
It is the duty of the government, through the police department, to enforce the law in the case of criminal offences. They have to receive the complaints and investigate it to see if an offence has been committed. I do not expect the police to spend too much time for the investigation, especially if the information is sketchy or unreliable. But if the information is sufficient or the complaint is made by several victims, the police should investigate and treat it as a matter of public interest.
There is the excuse that the police does not have sufficient resources and there are too many cases to follow up. The solution is to recruit more police officers and investigators. Even if it is difficult to gather sufficient evidence to prosecute the offenders, the policy should still investigate the complaint, as the investigation would deter the offenders from continuing their activities.
In recent years, there were heating cases that has involved many people. They were not investigated due to lack of resources. The victims were asked to get a lawyer to take a civil case. I hope that the police department and the ministry of home affairs will review their current stand on this type of cases.
Tan Kin Lian
Friday, April 8, 2011
Booking a flight
I wanted to book a flight to Vancouver for the last week of May. I searched Singapore Airlines and was surprised to find an economy ticket cost over $5,000. I asked my travel agent to source for a budget ticket.
I decided to search Google for air tickets from Singapore to Vancouver (to get a benchmark to compare the price sourced by my travel agent). I found a link to sg.webjet.com.sg. It was easy to navigate. It showed the available airlines and the travelling time. Here are the search results.
Several airlines offered a return economy ticket from $1,600 to $2,000, before the processing fee of 6% payable to Webjet. It also showed the travel time of the flights, which ranged from 20 to 32 hours per trip.
With this information, my preference is for Cathay Airways due to its wide choice (in case of last minute change of schedule), short travelling time (around 20 hours) and acceptable price (around $2,200, inclusive of the fee payable to Webjet). This price is less than half of Singapore Airlines.
I find the presentation by Webjet to be excellent. It is better than Zuji (which I used previously).
Tan Kin Lian
I decided to search Google for air tickets from Singapore to Vancouver (to get a benchmark to compare the price sourced by my travel agent). I found a link to sg.webjet.com.sg. It was easy to navigate. It showed the available airlines and the travelling time. Here are the search results.
Several airlines offered a return economy ticket from $1,600 to $2,000, before the processing fee of 6% payable to Webjet. It also showed the travel time of the flights, which ranged from 20 to 32 hours per trip.
With this information, my preference is for Cathay Airways due to its wide choice (in case of last minute change of schedule), short travelling time (around 20 hours) and acceptable price (around $2,200, inclusive of the fee payable to Webjet). This price is less than half of Singapore Airlines.
I find the presentation by Webjet to be excellent. It is better than Zuji (which I used previously).
Tan Kin Lian
Financial Savvy Test #19
Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ
1. Give me the top tips on financial planning Keyword: Tips
2, What should I be aware of, being making advanced payment for services? Keyword: advanced payments
1. Give me the top tips on financial planning Keyword: Tips
2, What should I be aware of, being making advanced payment for services? Keyword: advanced payments
Thursday, April 7, 2011
Malicious spyware - Internet Protection
I am now suffering from a malicious spyware called Internet Protection. It was installed into my laptop without my approval and could not be removed. It keeps popping up at frequent interval, asking to be activated at a hefty fee.
This is clearly a attempt to cheat consumers. I am now taking steps to remove this spyware, but it is quite difficult.
I wonder if there is any law in Singapore that will declare this type of activity to be illegal. Clearly, it is a person who intrudes into any person's domain (i.e laptop) without permission, with the intent to cheat. Furthermore, it is causing a big nuisance by making it difficult to be removed. If this is illegal, there must be a place that such criminal activity should be reported and an attempt by the authority to stop it.
I know that it is difficult to trace the identity of the intruder, but this is a separate matter. I read that in some countries, the authority will try to stop it within their powers. For example, they could mount a counter attack against the source of this illegal activity.
Tan Kin Lian
This is clearly a attempt to cheat consumers. I am now taking steps to remove this spyware, but it is quite difficult.
I wonder if there is any law in Singapore that will declare this type of activity to be illegal. Clearly, it is a person who intrudes into any person's domain (i.e laptop) without permission, with the intent to cheat. Furthermore, it is causing a big nuisance by making it difficult to be removed. If this is illegal, there must be a place that such criminal activity should be reported and an attempt by the authority to stop it.
I know that it is difficult to trace the identity of the intruder, but this is a separate matter. I read that in some countries, the authority will try to stop it within their powers. For example, they could mount a counter attack against the source of this illegal activity.
Tan Kin Lian
Free Look Period for Life Insurance Policy
A life insurance policy sold in Singapore comes with a 14 day free look period. It allows the policyholder to cancel the policy within 14 days and get a full refund of the premium that has been paid.
If this is an ordinary life insurance policy, the premium has to be paid in full. If this is an investment linked policy, the policyholder will have to suffer any loss due to a change in the market value of the units. However, there should be no deduction for agent's commission or other expenses.
If you wish to cancel the policy, you have to notify the insurance company directly. Do not go through the agent, as the agent may not submit this request to the insurance company. If you have bought a life insurance policy recently, and you are not told about the free look period, you should lodge a complaint to the regulator (MAS) that the insurance company is not complying with this requirement.
If you are not getting a refund according to my understanding, as set out above, you can bring the matter to my attention. I will see if there is any change in practice that is different from my undrestanding.
Tan Kin Lian
If this is an ordinary life insurance policy, the premium has to be paid in full. If this is an investment linked policy, the policyholder will have to suffer any loss due to a change in the market value of the units. However, there should be no deduction for agent's commission or other expenses.
If you wish to cancel the policy, you have to notify the insurance company directly. Do not go through the agent, as the agent may not submit this request to the insurance company. If you have bought a life insurance policy recently, and you are not told about the free look period, you should lodge a complaint to the regulator (MAS) that the insurance company is not complying with this requirement.
If you are not getting a refund according to my understanding, as set out above, you can bring the matter to my attention. I will see if there is any change in practice that is different from my undrestanding.
Tan Kin Lian
Financial Savvy Test #18
Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ
1. Should I stay on the Minimum Sum Scheme or convert to CPF Life? Keyword: Minimum Sum
2. What type of medical condition must I declare for life insurance? Keyword: medical condition
1. Should I stay on the Minimum Sum Scheme or convert to CPF Life? Keyword: Minimum Sum
2. What type of medical condition must I declare for life insurance? Keyword: medical condition
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