Atlan’s Singapore unit DFI may be a scam victim

Atlan said DFI identified the scam promoting the transfer of funds to the Ghana organisation and to an investment scheme on a Binance platform.

PETALING JAYA: Atlan Holdings Bhd’s Singapore-listed Duty Free International Ltd (DFI) says it could be a victim of a scam involving an organisation or persons possibly based in Ghana that are passing off as DFI.

DFI, a 75.5%-owned subsidiary of Atlan, is primarily involved in the duty-free business in Malaysia for over 40 years and accounted for about four fifths of Atlan’s revenue in the pre-pandemic period.

In a filing with Bursa Malaysia yesterday, Atlan said DFI identified the scam promoting the transfer of funds to the Ghana organisation and to an investment scheme on a Binance platform.

The Ghana organisation is using names and logos that are greatly similar to DFI’s name and logo on its profile pages and in YouTube channels created under the user names “@dfiinternational1174” and “@dfitaxfreeinternational9064”.

“In particular, several of the videos published claim to be tutorials for users to register, deposit money and purchase VIP membership with “DFI Tax Free International”, and to transfer funds to a Binance platform as part of the scam,” DFI said in the statement.

It added that the Ghana organisation has created a website and a “DFI” app that is accessible on Google Play.

“DFI and its subsidiaries are not associated in any way with the Ghana organisation, the scam, the YouTube channels created by the Ghana organisation (and the content published there under), the “DFI Tax Free International” name or the “DFI” app,” DFI clarified.

It warned the public not to fall for the scam or transfer any money or provide any bank account, credit card, debit card or e-wallet information to anyone in this regard.

Meanwhile, DFI has also issued a notice to YouTube to seek the removal of the YouTube channels operated by the Ghana party as well as made a police report regarding the matter.

Atlan said the scam is not expected to have any material financial effect on the financial performance of the group for the financial year ending Feb 28, 2023.

DFI operates under the brand name of “ZON” and is Malaysia’s largest multichannel duty-free and duty-paid retailing brand that serves Malaysians and international customers across all primary entry and exit points in Peninsular Malaysia.

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Atlan , DFI , scam , funds , transfer , Ghana , Binance


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