Minister in the Ministry of Finance and Economic Affairs Ryan Straughn is urging residents to think twice before putting their hard-earned money in “fancy schemes” that promise multiple returns on investment.At the same time, he is giving the assurance that a vigilant Financial Services Commission (FSC) was in the process of upgrading its structures to better monitor emerging trends.Straughn said while he encouraged investment, he did not want Barbadians to “play fast and loose with their money”, and he warned against residents investing in various schemes unless they give it very careful thought and are able to get information on the entity providing the returns.“All I can say to Barbadians is to pause with any of these fancy schemes. The reality is that we have to pay very close attention to when we are starting to feel that sweet feeling before we part with our money in order to make sure that we can protect ourselves,” said Straughn.
