This message comes to you from the Consumer and Investor Office (“CIO”) of the Securities Commission Malaysia (“SC”).

Unlicensed Activity Concerning Intermediaries

In July 2022, we included 3 clone firm scams on our SC Investor Alert List, as follows:

Name of Unauthorised Website/Products/Entities/Individual Remarks
Potential clone entity – Aberdeen Syariah Asset Investments
(https://www.aberdn.net/ | https://t.me/Aberdeen_Investment1 | https://t.me/Aberdeen_Investment2 )
Misusing the name and credentials of abrdn Malaysia Sdn Bhd (formerly known as Aberdeen Standard Investments (Malaysia) Sdn Bhd) a licensed entity with SC for fund management to carry out an illegal investment scheme offering high returns e.g. return of RM8,500 in 1 – 3 days with investment of RM600

Misrepresentation and misuse of SC’s name

Potential clone entity – Aberdeen Standard Investment (https://t.me/GroupAberdeenStandardPlatform) Misusing the name and credentials of abrdn Malaysia Sdn Bhd (formerly known as Aberdeen Standard Investments (Malaysia) Sdn Bhd) a licensed entity with SC for fund management to carry out an illegal investment scheme offering high returns e.g. return of RM8,500 with investment of RM600

Misrepresentation, misusing SC’s name and logo

Potential clone entity – Maybank Pelaburan Syariah / Maybank Islamic Pelaburan Syariah Misusing the name and credentials of Maybank Islamic Asset Management Sdn. Bhd. (a licensed entity with SC for fund management in relation to portfolio management) to carry out an illegal investment scheme offering high returns e.g return of RM15,000 in 3-6 hours with investment of RM1,000

These clone firm scams had impersonated some of SC’s licensed and/or registered entities, including misusing the name and logo, credentials and websites of legitimate entities.

These scams were promoted via social media through paid Facebook advertisement to lure investors with investment packages guaranteeing high returns.

Key characteristics of the scams are as follows:-

  • Interested individuals/investors are asked to click on a Telegram link within the Facebook advertisement. This will redirect these individuals to communicate to an “agent” or “broker” via the Telegram application.
  • Once interest to invest is communicated, the scammer will provide a mule bank account details for the investment to be made.
  • Once the initial “investment” is made, these individuals will be notified very soon thereafter that their investment has made a profit which may prompt the individuals to make further (and bigger) investment.
  • However, to withdraw their profits, these individuals will be asked to make further payments guised such as Bank Negara charges, income tax charges, administrative fees etc.
  •  

     

     

     


     

     

    Terms, Conditions and Disclaimers. Copyright © 2009 All rights reserved. Powered by TA Group
    | Policy on Personal Data Protection | Contact | TA Online | Sitemap |