Saturday, October 1, 2022
Arabic Arabic Bengali Bengali English English French French Hindi Hindi Indonesian Indonesian Malay Malay Punjabi Punjabi Russian Russian Spanish Spanish Turkish Turkish Urdu Urdu

Bursa Malaysia warns of investment scams impersonating legitimate institutions

Must Read

Ahsan says Imran committed national crime, if he took cypher away

Federal minister Ahsan Iqbal said the cypher is missing from the PM House and it is a serious...

Coin Master: October 1, 2022 Free Spins and Coins link

Coin Master is a single-player mobile game that can be downloaded from the Google Play Store or the...

Grab To Introduce Quiet Ride In Malaysia: Currently On Trial In Selected Areas

Some of us prefer to just sit quietly at the back during our e-hailing ride and prefer...


KUALA LUMPUR: Bursa Malaysia Bhd is advising investors to be on high alert to protect themselves and others from becoming victims of investment fraud.

The exchange operator said it has recently observed an increase in the number of scams involving the misuse of the Bursa Malaysia name and corporate logo.

“In times of uncertainty, such as the current COVID-19 pandemic, scammers try to lure victims into participating in dubious investment schemes and activities.

“They often use unlicensed or unregistered companies, websites and promotional material that mimic legitimate financial institutions to deceive the investing public,” it said in a statement today.

It said investment scams typically carry the Bursa Malaysia name and logo on marketing-related materials and social media postings, offering high investment returns with a guarantee of little or no risk.

“Investors are directed to ‘spoof’ websites and phone numbers set up by scammers, these fake websites look nearly identical to the actual sites of legitimate financial institutions,” it said.

It said calls to the phone numbers provided reach the scammer who pretends to be an employee who will then direct investors to transfer funds to an account with a different name.

Hence, it reminded the public to invest only with licensed parties.

“An updated investor alert list of unauthorised websites, investment products, companies and individuals, is available at Bursa Academy at https://www.bursaacademy.bursamarketplace.com/en/sc- investor-alert,” said the exchange.

Additionally, it recommended that investors verify the information and not rely on unsolicited marketing materials.

Investors should also compare and confirm websites or social media pages.

“Fake websites or social media pages will often have odd-looking (or low resolution) logos that do not match the legitimate company’s logo,” Bursa Malaysia said.

Investors should also avoid unusual payment methods and seek independent, professional advice.

“Be suspicious of unsolicited investment offers made online, on social media or over the phone,” it said.

Bursa Malaysia said it does not engage third-party agents to represent it.

“If you receive unsolicited and or suspicious communications relating to or claiming to be agents of Bursa Malaysia, we recommend contacting us directly at 03-2732 0067 or via e-mail at bursa2u@bursamalaysia.com to authenticate the content of any such communication,” it added. – Bernama




- Advertisement -
- Advertisement -

Latest News

Ahsan says Imran committed national crime, if he took cypher away

Federal minister Ahsan Iqbal said the cypher is missing from the PM House and it is a serious...
- Advertisement -

More Articles Like This

- Advertisement -