Bursa: Remain vigilant, beware of online investment scams

KUALA LUMPUR: Bursa Malaysia Bhd has urged the public to remain vigilant given the increasing number of online investment scams.

In a statement, Bursa Malaysia said recently there have been social media postings that misrepresented Bursa Malaysia and its senior management.

“The exchange does not authorise nor endorse such unlicensed investment activities,” it said.

“We strongly advise members of the public to be careful and not click any of the links provided by these suspicious postings which invite you to ‘participate’ in such investment schemes,” Bursa Malaysia said.

It is always best to follow these best practices when faced with suspicious online investment schemes:

▪ Do not click on web addresses or emails that misrepresent an authorised institution

▪ Verify whether the business is licensed and authorised by regulatory bodies

▪ Never share your banking details, identity card number or passwords to anyone

▪ Report to the authorities if you have been harassed or pressured to make a suspicious transaction, investment or receive illegal money deposits

Bursa Malaysia regularly updates the list of unauthorised websites, investment products, companies and individuals.

It noted that using logos and images of Bursa Malaysia and its management without approval is strictly prohibited and a breach of its copyright and trademarks.

“We will not hesitate to take legal action against anyone who misuses them,” it said.

“Bursa Malaysia would like to remind members of the public to only invest with licensed intermediaries. If you would like to trade shares on the exchange, please contact a licenced broker who will guide you on proper investing,” it added.