Securities Commissions (SC) Malaysia has updated its Investor Alert list to include 14 names that could be potential scam companies.
The Investor Alert List comprises companies that the SC has deemed as unauthorised entities and individuals. Companies listed in the Investor Alert List are deemed not safe to invest with as they are not protected under Malaysian securities laws.
Entities impersonating legitimate entities are described as “potential clones” in the list.
Clone companies and unauthorised entities
The list of companies/entities added consists of potential clones and unauthorised entities/individuals that could be engaging in illicit investment schemes that promise high returns.
Potential Clone Entities:
- Vida Markets Malaysia
- Al-Isra Group Syariah
- Aiiman Asset
- MCG Capital Corporation/MBCG Capital Group
- IGT Portal Investment Malaysia/Teck Guan Group
- WM Gold Venture
- Pelaburan RoboForex Malaysia
- DDNK Menang Saham
- BelleoFX Saham Trader
Unauthorised Entities/Individuals:
- Just Markets
- Sahabat RoyalQ Investment
- Over Binary Option
- VIP Menang Saham
- Cemerlang Saham Pertama
Read More: New Names Added To Securities Commission’s Investor Alert List
Increase in investment scams in Malaysia
A recent report by the Commercial Crimes Department (JSJK) highlighted the increase in investment frauds and scams in Malaysia.
Between 2019 to 2023, a total of RM1.34 billion in losses was incurred in Malaysia with over 14,000 cases reported over the five years.
To help tackle the increase in investment scams and frauds, SC has developed a platform called “investment checker” which users can access through the https://www.sc.com.my/investment-checker website to check the authenticity of any investment.
Of course, the best strategy is to always be vigilant of any get-rich or high-return investments as something that is too good to be true, it often is.
Need help with identifying investment scams? Read our article on How To Spot Investment Opportunities Scam.
