NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Biz Headlines
Investors warned of get-rich-quick share scams
Latest Updated by 2007-05-30 08:46:30
Related News
Central bank raises rates, reserve ratio
China allows overseas stock exchanges to establish offices
About 100 mln Chinese become stock holders
New rules for trading equities in state firms
Chinese govt won't exert direct influence on stock market, expert
Mainland stocks drop after interest rates raised
Stocks reach new high after deep slide
Business News
Investors warned of get-rich-quick share scams
Stamp tax raised on securities to cool stock market
China to increase rare metals' export tax

More News About: China's stock market >>>

Chinese investors should be suspicious of phone calls, online messages and websites touting highly profitable stocks, the Ministry of Public Security warned on Tuesday.

"As China's stock prices are soaring constantly, there has been a rise in the number of cases of illegal activities in the stock market, which has undermined the normal market order and threatened investor security," the ministry said in a notice on its official website.

The government has repeatedly warned investors of illegal securities companies that swindle clients of funds with claims of high returns.

The ministry said scam artists used Internet and phone calls to illegally tout stocks, funds or stock ownership to investors.

The swindlers charged unwary investors high fees for fake stock tips and then quickly disappeared after having collected a huge sum of money.

The funds or stock ownership, which were touted online or by phone, were often nonexistent, the ministry said.

Investors were also hoodwinked into buying fake "initial offerings" of stocks that were not listed on the exchanges.

Other scams include cases in which investors' shares were stolen and sold by criminals, who had stolen investors' account numbers and codes.

The ministry urged investors to be alert and not to trust promoters who touted unrealistic high returns, or accept stock tips from unidentified persons online or on the phone.

It also urged investors to be aware of computer security and to stop trading immediately when discovering a computer virus.

The China Securities Regulatory Commission has pledged to curb illegal trading and fraud in the stock market.

In February, the State Council approved the China Securities Regulatory Commission to lead a cross departmental team to crack down on illegal securities business.

Editor: Yan

By: Source: China View website
Previous:    Next:Stamp tax raised on securities to cool stock market


Stamp tax raised on securities to cool stock market


Human Domino get people relaxed


[Guangzhou] Eight New Attractive Places of Liwan District Selected


Tiyu Xi Road South to reopen to traffic


China beat S Korea 5-2 in women's soccer friendly
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips