Strange Phone Call From A Bangkok-Based Farang

[toybits]

A couple of days ago, I got a call from a farang with a very thick Brit accent. He did not introduce himself, told me he was working for a group that was aimed at encouraging farangs who had spare money to make investments is something. The number was a bangkok number. I asked him how he got my phone number and he was very evasive. He wanted elbow his way through to get me to make an appointment to some representative from his company. I know that a few years ago, there was a group doing illegal marketing deals. I think the phrase to describe this group was boiler room trading. I am not sure if any of the forum members have had similar experiences?

[angiud]

Me, few years ago. Just say him don't call me anymore.

And tens and tens of Thai speaking phone marketing people. Also asking my wife for her ID and Visa card numbers .

[onnut]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

[bendejo]

A crock to be sure. Just because it showed up on caller id as a Bangkok call proves nothing about his location.

"Spare money," what a concept. Wish I had me some of that.

[Tonto21]

Just say "NO" kid!

[toybits]

That was basically what I did.

Had I been made of weaker material, it would have been easy to get mesmerized by the sales pitch. This person has had lots of practice and knows the drill.

Please beware of people like these.

Just say "NO" kid!

[joncl]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

Well said ....

[changnaam]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

Well said ....

Please correct me if I am wrong but don't boiler rooms target people in different countries from their base, and only do "business" over the phone?

Granted the "Bangkok" number could quite easily not be a Bangkok number but if they wanted to meet? . Next time agree to go to their office and then you can see for yourself if they are an established co or someone who moves offices every week then after that you can really assist people with your comments

[bonobo]

Not a saying this particular case is a scam or a valid investment opportunity, but many legitimate investment brokers use cold calls. The telephone numbers of the people being approached are collected, collated, and sold to the companies making the pitch.

My dad spent many years after working at his main job all day in a second job pitching commodities at night. It was a thankless, time-consuming, and frustrating job at which he made very little. But with our family finances, every little bit helped. This was all done for a third-tier, but real investment firm.

Regardless, legit or scam, I don't accept any cold calls and tell the caller so before hanging up.

[PingManDan]

scam scam scam scam scam scam scam enough said !!!!

[Samuian]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

Well said ....

Please correct me if I am wrong but don't boiler rooms target people in different countries from their base, and only do "business" over the phone?

Granted the "Bangkok" number could quite easily not be a Bangkok number but if they wanted to meet? . Next time agree to go to their office and then you can see for yourself if they are an established co or someone who moves offices every week then after that you can really assist people with your comments

It is no guarantee at all!

These days one can rent offices including secretary - the lot.... on Sathorn, Silom, Surawong, Suk... name it!

All Company logos etc. can be made within a day, PRESS and XYZ ID cards at Kao San... Here a fake Office can be set up within 24 Hrs.!

Unless there are complaints nobody will care, nobody will be bothered.

[mallyrd]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

Well said ....

Please correct me if I am wrong but don't boiler rooms target people in different countries from their base, and only do "business" over the phone?

Granted the "Bangkok" number could quite easily not be a Bangkok number but if they wanted to meet? . Next time agree to go to their office and then you can see for yourself if they are an established co or someone who moves offices every week then after that you can really assist people with your comments

These types of movers and shakers never arrange to meet any where except at your office or at your home.

[changnaam]

<BR>

<BR>

<BR>

<BR>Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!<BR>

<BR><BR>Well said ....<BR>

<BR><BR><BR>Please correct me if I am wrong but don't boiler rooms target people in different countries from their base, and only do "business" over the phone?<BR><BR>Granted the "Bangkok" number could quite easily not be a Bangkok number but if they wanted to meet? . Next time agree to go to their office and then you can see for yourself if they are an established co or someone who moves offices every week then after that you can really assist people with your comments<BR>

<BR><BR><BR>These types of movers and shakers never arrange to meet any where except at your office or at your home. <IMG class=bbc_emoticon alt= src="http://static.thaivisa.com/forum/public/style_emoticons/default/wink.gif"><BR>

<BR><BR>Exactly, which is why I said go to their office, if they are not keen for you to see their premises then run for the hills.<BR><BR>Yes an office can be set up quickly but, does the company name exist on the building directory, do they have a website attached to the same address, there are tell tale signs if things are not exactly permenant.<BR><BR><BR>

[ExpatJ]

Not a saying this particular case is a scam or a valid investment opportunity, but many legitimate investment brokers use cold calls. The telephone numbers of the people being approached are collected, collated, and sold to the companies making the pitch.

My dad spent many years after working at his main job all day in a second job pitching commodities at night. It was a thankless, time-consuming, and frustrating job at which he made very little. But with our family finances, every little bit helped. This was all done for a third-tier, but real investment firm.

Regardless, legit or scam, I don't accept any cold calls and tell the caller so before hanging up.

Have to disagree abit here- any investment broker that needs to cold call is clearly sub standard in terms of its quality and you'd be mad to handover money to them (i mean companies are weak- not their cold calling staff who are just trying to earn a buck like your dad).

[Berkshire]

I refuse to even by a pizza from a telemarketer, so the idea of investing real money with a telemarketer is inconceivable. This used to be a topic that would annoy me to no end--telemarketer's, calling you to try and sell you all sorts of "stuff." What annoyed me were people that would buy stuff from telemarketer's. There had to be some, otherwise these telemarketers wouldn't still be in business to harass the rest of us!

Edited June 28, 2010 by Berkshire

[bonobo]

<BR>

<BR> Not a saying this particular case is a scam or a valid investment opportunity, but many legitimate investment brokers use cold calls.  The telephone numbers of the people being approached are collected, collated, and sold to the companies making the pitch.<BR><BR>My dad spent many years after working at his main job all day in a second job pitching commodities at night.  It was a thankless, time-consuming, and frustrating job at which he made very little.  But with our family finances, every little bit helped.  This was all done for a third-tier, but real investment firm.<BR><BR>Regardless, legit or scam, I don't accept any cold calls and tell the caller so before hanging up.<BR>

<BR><BR>Have to disagree abit here- any investment broker that needs to cold call is clearly sub standard in terms of its quality and you'd be mad to handover money to them (i mean companies are weak- not their cold calling staff who are just trying to earn a buck like your dad).<BR>

<BR><BR><P>I am not sure with what you are disagreeing.  That some are not legit?  I can pretty much state categorically that some are legit.<BR></P><P>Substandard?  OK, I can buy that some are.  I never attested that they were the cream of the crop.  Just that they were honest.  Then again, some are in fact scams.</P><P>Personally, I agree with Berkshire.  I have never, nor will I ever buy from a telemarketer.  If I do want to buy something, I will be proactive and go out and find the best source for that.  I certainly am not going to buy anything just because some guy or gal calls me up on the phone.</P>

[evanson]

Bangkok is full of boiler rooms, let's face it if a cockney calls asking about your money, it's got to be a scam!

A cockney eh? The majority of the boiler room guys I met in Sathorn were Aussies.

By the way, if you're so thick you'd part with you lucre on a cold call, som er, nom na you.

Edited June 28, 2010 by evanson

[Moonrakers]

If they were trying to organise a face to face meeting then the chances are that it was just a financial services company offering savings plans, pensions and the like.

There are a number of them based in Bangkok and they act simply as a broker, offering products from some very large financial institutions. They are not a scam and you do (or at least should) get what you pay for, however..........

Thailand is very weekly regulated which leaves it wide open for cowboys to practice with low ethical standards. Although they are selling a real and legitimate product, some push whatever deal will make THEM the most commission regardless of what might be best for the client. There are a few good guys out there but it is best to be cautious.

Edited June 28, 2010 by Moonrakers

[thaihome]

There are indeed a number of firms that specialize in marketing to expats that make cold calls to numbers they get by various means. Often is actually someone in your office that has passed on your number. This is true in every country I have worked in.

Most are not scams and I have a number of friends that swear by various companies that have helped them accumulate retirement funds very successfully.

I am surprised that if the OP has worked overseas for any length of tune he has not run into this before.

TH

Edited June 29, 2010 by thaihome

[filguy]

scam yan bro

[BanTamo]

Several years back there were quite a few wallies flying up to vientien and back to work thai-owned boiler rooms...aussies, brits, yanks, canadians...didn't matter. everything at the operation, including the phone lines, was thai. none of the wallies had a clue what it was they were doing for a living, and they reeled in quite a few suckers from all over the planet. funny thing is their investors probably fared no worse than most pension funds have done over the last two years...

[jayboy]

If they were trying to organise a face to face meeting then the chances are that it was just a financial services company offering savings plans, pensions and the like.

There are a number of them based in Bangkok and they act simply as a broker, offering products from some very large financial institutions. They are not a scam and you do (or at least should) get what you pay for, however..........

Thailand is very weekly regulated which leaves it wide open for cowboys to practice with low ethical standards. Although they are selling a real and legitimate product, some push whatever deal will make THEM the most commission regardless of what might be best for the client. There are a few good guys out there but it is best to be cautious.

The golden rule is NEVER talk to a Bangkok based financial advisor.

[hyperdimension]

Back in home country there is couple of similar companies with very aggressive phone spam routine.

After several 'No, thank you's a friend of mine got fed up with their calls to try arrange introduction meeting.

So for the next calls, he did agree an meeting with the sales persons. Somewhere in the city cafeterias.

He never went to meetings and after an while these calls stopped.

Everyone should do the same. Set up a meeting but do not attend. Edited June 29, 2010 by hyperdimension

[flightcrew1]

I had one guy call me for several months. I saved the number on my phone so could always see it was him calling. If, and I say if I picked up I would always say I was busy or leaving the country for a business trip and to call me back. He said he wanted to meet me at my office, which made me laugh since I'm a flight attendant.

He gave me the name of the company and out of curiosity I Googled it and it came up and looked quite legit, and listed offices in Bangkok and Hong Kong, etc. but when you looked more closely you noticed that there were no addresses given at all.

As I'm not naive I just figured from the beginning it was a boiler room operation as you always read about them in the papers.ll

I'm guessing he got my number since I have Thai credit cards. He did eventually give up calling.

[toybits]

I will remember this next time this happens to me. Thanks for sharing.

Back in home country there is couple of similar companies with very aggressive phone spam routine.

After several 'No, thank you's a friend of mine got fed up with their calls to try arrange introduction meeting.

So for the next calls, he did agree an meeting with the sales persons. Somewhere in the city cafeterias.

He never went to meetings and after an while these calls stopped.

Everyone should do the same. Set up a meeting but do not attend.

[goldfinger]

why not agree with him and make a fake appointment, your name? Mr.Webster, Miller, smith, etc.....

if he fills his day up with faked meetings its success.(not for him)

[kbill]

Hmmm just got a call today from someone working for Infinity.Any1 heard of them.Googled them and they have addresses in Bkk ,KL,PP and HCMC.Don't know if thats a good or bad thing. Yes they have a Bkk address but why is their business dealing in such dodgy countries.Anyway set up the appointment so I,ll let you know how it goes.

[dmax]

just tell him to f off !! simples m8

[dmax]

forgot to say , ive read about a farang group operating a scam in bangkok, something to do with boiler rooms .....SCAM !!!

[prefabs]

forgot to say , ive read about a farang group operating a scam in bangkok, something to do with boiler rooms .....SCAM !!!

They started off selling guest houses in Soi Bukhaow