The Securities Commission Malaysia (SC) has cautioned the public to be on the alert for any individuals or entities that may try to take advantage of the latest developments of COVID-19 to entrap them into investing in illegal investment schemes.
It said investors who deal with unlicensed or unauthorised entities or individuals are exposed to various risks, including fraud and money laundering, and may not have access to legal recourse in the event of a dispute.
The capital market regulator also warns the public against investing in unauthorised digital asset exchanges (DAX) operating in Malaysia, following an increase in the number of queries and complaints it has received.
"The SC reminds investors to only trade with Recognised Market Operators (RMOs) that are registered and authorised by the SC," it said in a statement today.
Currently, there are three registered RMOs for DAX, namely Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd and Tokenize Technology (M) Sdn Bhd.
Apart from these three operators, no other online platforms are presently permitted by the SC to establish and operate a DAX in Malaysia.
The SC has added 12 companies operating without SC's licence or authorisation under its watchlist or Investor Alert at http://www.sc.com.my/investor-alert.
It also cautions all unauthorised DAX operators in Malaysia to immediately cease their activities, adding that operation without authorisation from the SC is an offence under securities laws and if a person is convicted, he may be liable to a fine not exceeding RM10 million ringgit or imprisonment for a term not exceeding 10 years or both.
Additionally, the public should alert the SC if they come across any suspicious websites as well as receive any unsolicited phone calls or e-mails offering investment advice and opportunities, especially those that offer high returns with little or no risks.
Queries or complaints can be made to the SC at tel: +603 6204 8999 or e-mail: [email protected].
-- BERNAMA
Bernama
Fri Apr 24 2020
Queries or complaints can be made to the SC at tel: 603 6204 8999 or e-mail: [email protected].
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.
PDRM to consult AGC in completing Teoh Beng Hock investigation
The police may seek new testimony from existing witnesses for additional insights into the investigation of Teoh Beng Hock's death.
Thai court rejects petition over ex-PM Thaksin's political influence
Thailand's Constitutional Court rejects a petition seeking to stop Thaksin Shinawatra from interfering in the running the Pheu Thai party.
Abidin takes oath of office as Sungai Bakap assemblyman
The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in today at the State Assembly building, Lebuh Light.
UPNM cadet officer charged with injuring junior, stomping on him with spike boots
A cadet officer at UPNM pleaded not guilty to a charge of injuring his junior by stomping on the victim's stomach with spike boots.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies' market value.
Elon Musk blasts Australia's planned ban on social media for children
Several countries have already vowed to curb social media use by children through legislation, but Australia's policy could become one of the most stringent.