Latest news with #SecuritiesCommissionMalaysia
The Sun
3 hours ago
- Business
- The Sun
Securities Commission warns investors about cloned public register scam
PETALING JAYA: The Securities Commission Malaysia (SC) has alerted the public on a new investment scam, involving a cloned version of the SC's Public Register of License Holders and Registered Persons. In a statement today, the SC said this method of deceiving investors sees scammers falsely claiming to represent entities purportedly licensed by the commission. 'To support these false claims, potential victims are directed to a fraudulent website that mimics the SC's official Public Register portal. Upon entering the name of the fake entity into this cloned site, the search result will show that the fake entity is legitimately licensed by the SC. The fake listing includes fabricated company registration numbers, license details, and other fictitious credentials,' it added. The SC said victims are persuaded to transfer funds into mule bank accounts allegedly for the purpose of investing. Since the discovery of this new investment scam, the SC has taken immediate steps to bring down the identified cloned websites. Notwithstanding, the SC has urged the public to be alert and never click on random links received from unknown sources. Investors should only use SC's official Public Register directly at to verify the legitimacy of an entity. Investors are also reminded to avoid transferring funds into bank accounts of suspicious entities, which may possibly be mule accounts used by scammers. Investors who have any doubts or come across suspicious websites or investment schemes can contact the SC's consumer and investor office at 03-6204 8999 or email aduan@
The Star
10 hours ago
- The Star
QuickCheck: Has coffee vending machine fraud led to over RM6mil in losses?
In the frothy world of coffee investments, not all brews promise a rich return. Recently, it was claimed that some investors found themselves in hot water after pouring their savings into a scheme involving coffee vending machines. Is it true that coffee vending machine fraud has led to over RM6mil in losses? VERDICT: TRUE This is in fact true, with Selangor police chief Comm Datuk Hussein Omar Khan saying that police in the state have received 101 reports related to coffee vending machine investment fraud cases involving total losses amounting to RM6.7mil from January to April this year. He said that the initial investigations found that the victims were enticed by detailed explanations and representations about the vending machine investment offered by the suspect, which allegedly promised high returns. Comm Hussein added that those who were convinced by the scheme proceeded to join the investment programme and made payments into bank accounts provided by the suspect. "The victims were unsure whether the investment was legitimate. Initially, they received some returns, but over time, the payments stopped," he said in a statement on Thursday (June 5). The cases are being investigated under Section 420 of the Penal Code for cheating. Comm Hussein said the investigation papers had been referred to the Deputy Public Prosecutor's Office, which decided that no charges would be filed under fraud-related offences. In light of this, he advised the complainants to pursue civil action to contest any breach of the contract agreement signed with the investment company and to recover their investments. He also reminded the public to be cautious of investment schemes promising unrealistic returns, especially those promoted through financial apps or platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia. For verification, advice, or to lodge a complaint, the public can contact the National Scam Response Centre (NSRC) at 997.
The Sun
11 hours ago
- The Sun
RM6.7 million lost in Selangor coffee vending machine investment fraud
SHAH ALAM: Selangor police have received 101 reports related to coffee vending machine investment fraud cases, involving total losses amounting to RM6.7 million, from January to April this year. State police chief Datuk Hussein Omar Khan said initial investigations found that the victims were enticed by detailed explanations and representations about the vending machine investment offered by the suspect, which allegedly promised high returns. He said those who were convinced by the scheme proceeded to join the investment programme and made payments into bank accounts provided by the suspect. 'The victims were unsure whether the investment was legitimate. Initially, they received some returns, but over time, the payments stopped,' he said in a statement today. The cases were being investigated under Section 420 of the Penal Code for cheating. Hussein said the investigation papers had been referred to the Deputy Public Prosecutor's Office, which decided that no charges would be filed under fraud-related offences. In light of this, he advised the complainants to pursue civil action to contest any breach of the contract agreement signed with the investment company and to recover their investments. He also reminded the public to be cautious of investment schemes promising unrealistic returns, especially those promoted through financial apps or platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia. For verification, advice, or to lodge a complaint, the public can contact the National Scam Response Centre (NSRC) at 997.
The Sun
11 hours ago
- The Sun
Selangor Police Probe RM6.7 million Vending Machine Scam
SHAH ALAM: Selangor police have received 101 reports related to coffee vending machine investment fraud cases, involving total losses amounting to RM6.7 million, from January to April this year. State police chief Datuk Hussein Omar Khan said initial investigations found that the victims were enticed by detailed explanations and representations about the vending machine investment offered by the suspect, which allegedly promised high returns. He said those who were convinced by the scheme proceeded to join the investment programme and made payments into bank accounts provided by the suspect. 'The victims were unsure whether the investment was legitimate. Initially, they received some returns, but over time, the payments stopped,' he said in a statement today. The cases were being investigated under Section 420 of the Penal Code for cheating. Hussein said the investigation papers had been referred to the Deputy Public Prosecutor's Office, which decided that no charges would be filed under fraud-related offences. In light of this, he advised the complainants to pursue civil action to contest any breach of the contract agreement signed with the investment company and to recover their investments. He also reminded the public to be cautious of investment schemes promising unrealistic returns, especially those promoted through financial apps or platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia. For verification, advice, or to lodge a complaint, the public can contact the National Scam Response Centre (NSRC) at 997.
New Straits Times
13 hours ago
- Business
- New Straits Times
SC warns public on cloned public register scam
KUALA LUMPUR: The Securities Commission Malaysia (SC) today issued a warning about a new investment scam involving a cloned version of its Public Register of License Holders and Registered Persons. Scammers are falsely claiming to represent entities licensed by the SC and directing potential victims to a fraudulent website that closely imitates the official SC Public Register portal. To support these false claims, potential victims are directed to a fraudulent website that mimics the SC's official Public Register portal. Upon entering the name of the fake entity into this cloned site, the search result will show that the fake entity is legitimately licensed by the SC. "Victims are persuaded to transfer funds into mule bank accounts allegedly for the purpose of investing. Since the discovery of this new investment scam, the SC has taken immediate steps to bring down the identified cloned websites," it said. The SC urges the public to remain cautious, avoid clicking on links from unknown or suspicious sources, and to verify any entity's legitimacy only through the official SC Public Register at
