Several New Names Makes The Securities Commission Investor Alert List

Several New Names Makes The Securities Commission Investor Alert List

The Securities Commission has made several updates to their Investor Alert List, adding more companies that the public should be wary of.

The Investor Alert List is a list maintained by the Securities Commission, and the list contains a collection of unauthorised websites, investment products, companies and individuals.

The most recent updates were made on the 1st, 8th and the 25th of April, and also on the 2nd of May.

The updates contained these companies;

  • Potential clone entity – BelleoFX
  • Potential clone entity – Trade Zella, 
  • Potential clone entity – Wealth Tree Holdings Sdn Bhd, 
  • Potential clone entity – Affin Hwang Investment
  • Butter Trade
  • Produk Kewangan
  • Potential clone entity – HFM / HF Markets
  • Possible clone entity – Saham Mastery
  • Asvisonomics
  • Potential clone entity – NCC Investment
  • Capitalix
  • Potential clone entity – Stern
  • Potential clone entity – Phillip Wealth Planners

In their updates, the Securities commission also added some remarks regarding their entry of BelleoFX as a potential clone entity.

A potential clone entity is an entity that impersonates legitimate entities.

They stated that,

 “The SC through its surveillance efforts has uncovered a network of 54 Telegram channels operating under the name “Belleo FX” suspected of offering illegal investment schemes.

They also added that these public telegram channels were enticing investors with promises of unrealistically high returns within a short time frame.

“For instance, these channels offer investment packages with initial investment ranging from RM300-RM15,000, promising returns between RM7,000 and RM600,000 within 3 hours,” said the Securities Comission.

The Investor Alert List is a list of unauthorised entities or individuals, and acts as a warning against the public to not deal with them.

The list is also updated periodically, so if you want to see if there’s any new updates to the list you can check out the full list right here.

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