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.

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