Speak Asia Online Scam

Authorities have started invetigating on the functioning of online suvey company – Speak Asia.They have collected hundreds of crores from users by promising huge payments for filling its surveys. The ministry of corporate affairs has already launched an investigation on this singapore based firm. Investor protection groups allege Speak Asia, which started operations in India about a year ago, appears to be running a Ponzi scheme where new investments are used to pay existing subscribers. Speak Asia, which does not have an office in the country, charges 10,000 or 5,000 upfront from web surfers towards a subscription of ‘Surveys Today’ e-zine, an online magazine, for one year and six months respectively to enrol as its panellists. But it offers up to 900 to fill up two surveys of about 12 lines each. And it says it has enrolled 1.9 million panelists. The working of Speak Asia is now in under lens at least till the end of investigation .The investors are keenly waiting for the the outcome of the investigation.

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