MAS has issued a warning that ABS Life Asset Management Company may be a fraud. They have flagged this broker after receiving customer complaints and carrying out their own investigations. We recommend not opening an account with any broker that is flagged by regulators. These warnings are usually accurate and should be heeded.
ReportScamOnline stays current on the latest regulator alerts and warnings. We research flagged brokers and create reviews as a service for the public. If you have an account with ABS Life Asset Management Company, we urge you to close it and withdraw your funds. If they don’t honor this request, talk to ReportScamOnline.
What Is the MAS?
MAS is the Monetary Authority of Singapore. It is responsible for a wide range of financial activities, including monetary policy and regulating financial organizations in Singapore. It also checks that brokers are adhering to rules and licensing. They issue warnings about financial companies that aren’t adhering to rules or that are unlicensed.
What Are Problems with ABS Life Asset Management Company?
At least one or more of the following issues have been identified:
ABS Life Asset Management Company may have problems with its license. It may have no license at all or could have one that is outdated or revoked. Often brokers operate with third-rate licenses that don’t even cover the areas in which they offer services.
ABS Life Asset Management Company may have made some statements that led customers to believe that they would earn a certain percentage of returns or that they will pay minimal fees. Some brokers falsify or exaggerate credentials, which also can be misleading.
Lack of Transparency
Some of ABS Life Asset Management Company information wasn’t readily available. It could be that what was lacking were real names of people who run it, exact locations, addresses, and contact information. It’s important to know who you’re dealing with when you trade money, and not giving details can lead to confusion.
It’s possible that ABS Life Asset Management Company customers weren’t able to access their accounts or their requests for withdrawals were ignored. This often happens with flagged brokers. The main reason customers complain is restricted account access.
To have ended up on MAS’ list of questionable brokers, ABS Life Asset Management Company must have done something to merit myriad customer complaints. MAS doesn’t add a broker to its warning list without cause–often only after customer claims have been thoroughly examined.
Have You Lost Money to ABS Life Asset Management Company? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid the scam brokers mentioned here and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.