Lot of people have been lately asking me about Speak Asia Online. Their ads are running on television and it has to do with making money online. So let’s take a look as to what Speak Asia Online is and whether they can be trusted.
What is Speak Asia?
If you ask someone who has already joined Speak Asia, they would tell you that it is a company where you have to pay around Rs 11,000 for a membership. Once you are a member, you will be getting some surveys and you will be paid for filling those surveys. It is believed that the Rs 11,000 investment can be recovered within 3 months. You can also make more money by referring people. You get some percentage of the amount earned by people who have registered under you. People have recovered their money and are making profits with Speak Asia right now.
Company Background
The company is known as SpeakAsia Online PTE Ltd. which is registered in Singapore. This company was previously known as Haren Technology PTE Ltd. which was known as PAN Automotives PTE Ltd. The status of these companies and most of the companies related to such names is either ‘cancelled’ or ‘terminated’. Companies usually change their names when they are caught doing something illegal or have a bad name in the market. This company has changed it’s name more than 2 times already.
The domain name SpeakAsiaOnline.com is registered only till 21 January 2013. It’s is very uncommon for such a big company to register it’s domain only for 2 years. If this company is really genuine then it should be in business for at least for the next 10 years and so should be it’s domain.
The Catch
Not many people know this but the members of Speak Asia Online are not paying Rs 11,000 for getting the surveys. As per their website, the membership fee is for the E-Zine sent to you. This means the company can stop sending surveys to you anytime and stop your earnings.
Why Is This a Scam Or a Fraud
Lot of people are getting money from Speak Asia online which is 100% true. Some of my relatives have recovered the money they have invested. In that case, how can this be a scam or a fraud? To me, this is a kind of gambling which a lot of us know of. By investing just Rs 11,000 you are making around Rs 5,000 a month by spending just a few minutes on our computer. It is obvious that lot of people would want to fill in more surveys and make more money. Speak Asia does not allow you to do that with a SINGLE account. To get more surveys and make more money, you need to create one more account which means you will have to pay Rs 11,000 again. Lot of people fall for this trick and create multiple accounts by investing lakhs of Rupees. The company can vanish one day when it has many such people who have invested loads of money hoping to earn more.
Such scams have been around for a long time. There are some basic questions that should come to your mind before falling for such scams.
- Why would someone ask for money when you are working for them? Is this some kind of a bribe? I am working for you by filling the surveys so pay me accordingly. Why need an investment from my end?
- Why would a company be registered in Singapore when most of it’s members/site visitors are from India and Bangladesh?
- Why do I need more accounts if I am ready to work hard and fill in more surveys? If an additional account is needed, why do I need to pay for it?
- Even if I get a new account, are you not cheating the product company by taking surveys from same people?
- If the surveys are for Indian products and your company is registered in Singapore, why are the payments made and sent in US dollars?
- Why would someone pay you so high just for giving them a data (surveys) which can be gathered for free or at a very low cost?
As we all know, the data this company is gathering must be for some FMCG companies. These companies do not pay such high amount for gathering information from it’s customers. Most of the times, this information can also be gathered free of cost. If the company claims that the surveys are done for non-Indian products then again it makes no sense as to why a foreign company would be interested in gathering interests of Indians.
A little common sense, background check and logic tells me that this company is not here to stay for long. There have been such scams and this one seems to be attracting more people due to the advertising done. The process includes of creating a good name in the market, getting more money from people and then vanish one day. All I can recommend you is to stay away from such scams and alert others who are investing their hard earned money in to this. If making money was so easy, then everyone of us would be millionaires. 
Update 17 May 2011: Speak Asia had called for a so called ‘Damage Control’ press conference in Mumbai. The CEO Mr. Manoj Kumar (nice unique name 
The most important statement came from Mr. Kumar at the very end of the conference. One of the reporters asked MR. Kumar about their presence in Bangladesh. Mr. Kumar denied any reports of their presence in Bangladesh. On the other hand, the company owner Harinder Kaur has already spoken about their success in Bangladesh. Harinder Kaur’s message can be found on SpeakAsia’s website here - http://assets.speakasiaonline.com/static_popup/popup18.html.
This shows that the company is full of liars and should not be trusted. It is also believed that some banks have frozen accounts of Speak Asia. You can watch the full press conference below:
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