Commentary
The Star Online, 12 Sep 2009
Are Singaporeans too simple-minded – or greedy – to be able to survive unscathed in this era of sophisticated scams and financial sharks?
Protected by a system of laws and a stable environment, they become vulnerable when exposed to sophisticated swindlers and Madoff-type con men.
The old magic stone tricks have made way for modern online frauds, credit card cheats and money schemes in which black and white are not always distinguishable.
“The average Singaporean is honest and law-abiding, and tends to think the world spins like that,” said a retired manager. “If a well-dressed Westerner spins an investment plan, he’ll likely lap it up.”
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