Bank Negara adds OctaFX to Financial Consumer Alert list

Bank Negara urged the public to exercise due care when investing in any entity or financial scheme. — AZMAN GHANI/The Star

PETALING JAYA: Bank Negara Malaysia said it has added trading platform OctaFX to its Financial Consumer Alert list.

In a statement released on Aug 29, it said the list consists of companies and websites that are neither authorised nor approved under the relevant laws and regulations administered by the central bank.

The Financial Consumer Alert list includes OctaFX's website, as well as its official accounts on social media platforms such as YouTube, Twitter, Facebook, LinkedIn, Instagram and Telegram.

BNM said the list serves as a guide to enhance awareness of entities or schemes which may have been wrongly perceived or represented as being licensed or regulated by the central bank.

Bank Negara said the list is updated based on information received from members of the public, after conducting necessary assessments on the reported entities and schemes.

The Securities Commission Malaysia (SC) has also added OctaFX to its Investor Alert List of companies or websites that carry on capital market regulated activities without a licence or registration.

Bank Negara urged the public to exercise due care when investing in any entity or financial scheme, while the SC encouraged the public to alert it of any suspicious capital market activities.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

US billionaire eyes TikTok takeover to save Internet from Big Tech
SoftBank's Son: will ramp up US power business for generative AI sounds alarm on AI-enabled travel scams
Nvidia CEO Jensen Huang has a no one-on-one meetings rule for his 55 direct reports
Instagram boss Adam Mosseri reveals he argued a lot with Mark Zuckerberg in the early years
CDK Global investigating cyber incident, briefly shut all systems
Former OpenAI chief scientist to start a new AI company
Northvolt reviewing plans for new Swedish gigafactory
Dell, Super Micro providing server racks for xAI's supercomputer
Amazon invests $11 billion to expand cloud and logistics in Germany

Others Also Read