BNM raids Asia Ceramic Marketing, seizes documents, assets

KUALA LUMPUR: Bank Negara Malaysia raided Asia Ceramic Marketing Sdn Bhd's office in Kuala Lumpur and seized assets and documents.
The central bank said on July 23 the raid and seizure of assets were carried out following complaints the public.
The investigations were carried out under Banking and Financial Institutions Act 1989 (BAFIA) and Section 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).
Section 25(1) of BAFIA 1989 prohibits any person from receiving, taking, or accepting deposits without having a valid license, whereas Section 4(1) of AMLATFA 2001 prohibits any person from engaging in, or attempting to engage in, or abetting the commission of money laundering activities.
It reminded the public to be cautious of deposit taking schemes and investment schemes offered through various channels such as the internet, phone calls, or seminars conducted by individuals or companies that are not licensed or approved by the relevant authorities.

I tried to warn my friends when they explained to me about this so called do-nothing-earn-money. In bahasa Malaysia, it is 4D (Duduk Diam Dapat Duit). They even showed me tonnes of awards and certificates to convince me that this was actually a legal business but i refused them. This is not the type of MLM (multi level marketing)/Business that i understand. I am quite active in MLM, in fact, through MLM, i manage to accumulate some capital to start my investment journey.

I join Luxor Network Sdn Bhd, I became a Diamond Manager on 2005 when i was still an undergraduate in UTM. After my study in UTM, i continued with my MLM, i became a Crown Manager in 2007 at the age of 24.

MLM changes my mindset. MLM is good, but please do not join 4D(Duduk Diam Dapat Duit)businesses and get-rich-quick schemes. if we join them, in fact, it would turn out to be a get-poor-quick scheme.