Big Take Asia
A New Breed of Scammer Is Targeting Asia's Ultra-Rich
Jun 11, 2024
Bloomberg investing reporter David Ramli discusses the rise of imposters targeting Asia's ultra-rich in the family office industry. The challenges of spotting scammers in this secretive sector and amateur detectives like Eric SayWei Neo helping weed out imposters are highlighted in the podcast.
17:24
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Quick takeaways
- The rise of fake family offices poses challenges in the ultra-rich sector's secrecy and legitimacy.
- Amateur detective work within the industry highlights the lack of regulation in identifying impostors.
Deep dives
The Booming Industry of Family Offices in Asia
The podcast explores the significant growth of family offices in Asian financial hubs like Singapore and Hong Kong. These offices cater to ultra-rich families, managing trillions of dollars globally. The narrative highlights encounters with fake or exaggerated family offices in industry events, potentially exposing the challenges of identifying legitimate practices amidst the wealth management sector's secrecy.
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