More Unlicensed Financial Service Providers Warned by Malaysia Financial Regulator

The Securities Commission Malaysia (SC) has updated its Investor Alert List for November 2024.

Financial regulators in Malaysia do not authorize the entities on the List and bring risks to local investors.

However, this list is not exhaustive and only guides investors before making any investment decisions, the Malaysia SC reminded.

Potential clone entities

According to the Malaysian financial regulator, the potential clone entities carried out illegal investment schemes or unlicensed capital market activities.

They often misused details of authorized firms such as names and the watchdog’s name and logo. You may find more information about the misuse with the pictures attached.

Bursa Mmalaysia

Website: https://bursammalaysia.com/Trade/tradelist

Warning Notice: This entity misuses the name and credentials of Bursa Malaysia Berhad, an exchange holding company under the purview of the SC and the Ministry of Finance.

iFASTT pro

Website:

https://apps.apple.com/my/app/ifastt-pro/id6737157488

https://play.google.com/store/apps/details/All_Bank_Balance_Check?id=com.bank.balance.chec

iFASTI Plus

Website: 

https://play.google.com/store/search?q=ifasti&c=apps

https://apps.apple.com/my/app/ifasti-plus/id6737787687

Warning Notice: The two entities misuse the name and credentials of the SC-licensed firm iFast Capital Sdn. Bhd..

Syarikat KAF Investment Funds

Warning Notice: This entity misuses the name and credentials of the SC-licensed firm KAF Investment Funds Berhad and SC’s name and logo.

Kenanga Islamic Investors

Warning Notice: This entity misuses the name and credentials of the SC-licensed firm Kenanga Islamic Investors Berhad (eCMSL/A0237/2008) and SC’s name and logo.

Finex Trade Station

Website:

https://t.me/pelaburanasbn457

https://t.me/pelaburanasbn477

Warning Notice: Possible clone operating an illegal investment scheme offering high returns. (e.g return of RM45,000 in 3-6 hours with investment of RM1,000)

Capspring Temasik

Warning Notice: This entity misuses the name and credentials of BNM-approved Financial Advisor Capspring Temasik Financial Group Sdn. Bhd. and SC’s name and logo.

CICC Investment Club / CW(M)-PRO

Website: https://play.google.com/store/search?q=cw%28m%29pro&c=apps

L Capital / L&C TRD

Website: https://play.google.com/store/apps/details?id=com.lcsjtajur.app&pcampaignid=web_share

Olympe Trading

Warning Notice: Possible clone that misuses SC’s name and logo and operates an illegal investment scheme offering high returns.

Unlicensed entities

The unlicensed entities are warned by the SC for carrying on capital market activities.

Scammers in Malaysia are promoting fraudulent investment schemes on social media and promising unbelievable returns. Though the SC has named some of the scammers on its Alert List, far more financial criminals are waiting for their prey.

Some of the SC-warned entities may have financial licenses in other countries. Malaysian investors should be informed about the risks involved.

Ahmed Prima

Website: https://member.ahmedprima.com/user/login

Admiral

Website: https://wap.admiralsvip.com/

InstaTrade

Website:

https://www.instatrade.com/

https://www.facebook.com/instatrade.official

InstaForex

Website: https://www.instaforex.com/

Untung Melabur Berjaya

Website: https://t.me/untungmelabur

Warning Notice: Illegal investment scheme offering high returns e.g return of RM10,000 in 3-6 hours with investment of RM500.

Binomo

Website: https://binomo.com/

Support MBE by USTAD

Website: https://t.me/UstadMBE

Warning Notice: Illegal investment scheme offering high returns e.g return of RM10,000 in 3-6 hours with investment of RM500

Folgory Exchange

Website: https://folgory-ex.cc/

PPNANCE

Website: https://ppnance.online/#/

Ultima Markets

Website: https://www.ultimamarkets.com/

Moneta Markets

Website: https://www.monetamarkets.com/

Lumina

Website:

https://www.lumina-myr.com/

https://t.me/bersama_trd24

Amanah Laju

Website:

https://amanahlaju.com

https://www.facebook.com/Amanahlaju

Monaxa Broker

Website: https://www.monaxa.com/ms/

Digzax

Website: https://www.digzax.com/#/

P Trade Pro

Website: https://play.google.com/store/apps/details?id=com.kayansalma.ramdanjordan/

RAX Capital Trading

Website: https://raxcapitaltrading.com/

Warning Notice: Platform operating an Illegal investment scheme offering high returns e.g return of RM1,500 with investment of RM200.

Autobot Crypto

Website: https://Autobotcrypto.com/synergyhq