Bursa Malaysia to post weekly online alerts on investment scams

KUALA LUMPUR: Bursa Malaysia Bhd will commence a series of online posts, #stayalert, about different types of investment scams misrepresenting the stock exchange

It said these weekly postings will include scams that have been reported, covering social media scams, Telegram groups, and the use of forged letterheads and logos.

The stock exchange said it is seeing an increase in investment scams in the country as scammers take to social media channels to lure potential victims, with many misusing the Bursa Malaysia name and logo as well as misrepresenting themselves as employees of the exchange.

It advised the public to be more vigilant when approached by parties misrepresenting themselves as having the Exchange’s endorsement or as its employees, and to only follow Bursa Malaysia’s official social media channels.

According to data from the Royal Malaysia Police, a total of 71,833 scams amounting to more than RM5.2bil in losses was reported from 2020 until May 2022, of which 11,875 or 17% were related to loan and investment scams.

"Given the increasing number of scam cases, it is important for investors to have the right investment knowledge and tools in order to make informed decisions and easily identify fraudulent activities," said Bursa Malaysia in a statement.

Additionally, the stock exchange reminded members of the public that it would not request for them to pool funds for any collective investment scheme, and that they should only invest with licensed investment professionals.

Should members of the pubic receive unsolicited or suspicious communications relating to, or claiming to be agents of Bursa Malaysia, please email bursa2u@bursamalaysia.com or call 03–2732 0067 to authenticate the content of any such communication.

For a list of unauthorised website, investment products, companies and individuals, visit https://www.sc.com.my/regulation/enforcement/investor-alerts/sc-investor-alerts/investor-alert-list

Members of the public are invited to visit Bursa Malaysia’s website www.bursamalaysia.com and the following official microsites and social media channels:

• Bursa Marketplace - featuring several major investment tools for new investors to learn the basics of investing,

• Bursa Academy - a one-stop e-learning platform that covers three markets namely equities, derivatives and Islamic capital markets.

• Bursa Malaysia Facebook – https://www.facebook.com/BursaMalaysia

• Bursa Malaysia Instagram – https://www.instagram.com/bursamalaysia

• Bursa Malaysia Twitter – https://twitter.com/BursaMalaysia

• Bursa Malaysia LinkedIn – https://www.linkedin.com/company/bursamalaysia/

• Bursa Malaysia Youtube – https://www.youtube.com/BursaMalaysia

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Bursa Malaysia , investment , scam , alert


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