KUALA LUMPUR: The Securities Commission (SC) has blocked two more websites following its successful crackdown on six illegal investment scheme websites less than two weeks ago.
Raids were also conducted on several AB Fund offices in the Klang Valley for suspected illegal deposit-taking and investment activities.
Items from the premises were also confiscated and statements were taken from its employees.
“This exercise to block access to illegal investment websites is an ongoing process, with further websites to be blocked in the future as the SC continues its investigations,” the statement read.
Earlier reports from the SC had identified some 60 websites involved in illegal cyber investments, and warned that illegal deposit-taking operators could be jailed up to 10 years or fined RM10mil, or both.
Investors who participated in such schemes were also advised to withdraw their investments, as they will not be able to enter their accounts once access to the websites is blocked.
The public are also reminded to only invest with parties licensed by the SC and to refer to the SC’s Frequently Asked Questions (FAQ): Do Not Invest in Illegal Internet Investment Schemes at www.sc.com.my.
Thousands of Malaysians have fallen victim to such scams, prompting the SC to work with Bank Negara, the Malaysian Communications Multimedia Commission and CyberSecurity Malaysia to track, identify and block access to websites promoting e-investment activities.
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