SCAM attempts targeting Malaysian investors have become an unfortunate fact of life, with fraudsters growing increasingly brazen in the tactics they use to lend their schemes an air of legitimacy.
The latest variation involves fake letters bearing the name and logo of one of the country's most recognised financial institutions, designed to trick unsuspecting investors into handing over money or personal information.
But are scammers really misusing Bursa Malaysia's name and logo to deceive investors?
Verdict:
TRUE
Bursa Malaysia itself has confirmed the scam, issuing a public warning on its official Facebook page on May 5 urging investors to be cautious of fraudsters misusing the exchange's name and logo in fake letters to deceive investors.
The stock exchange advised investors to conduct thorough research before engaging in any financial transaction or providing personal information to any party claiming to represent Bursa Malaysia.
Investors are encouraged to verify the legitimacy of any investment offer through the Securities Commission's Investment Checker portal at sc.com.my/investment-checker.
Those who encounter suspicious activity or believe they have been targeted can contact the National Scam Response Centre at 997.
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