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

Unlicensed Activity Concerning Intermediaries

In August 2022, we included 4 clone firm scams on our SC Investor Alert List, as follows:

Name of Unauthorised Website/Products/Entities/Individual	Remarks
Potential clone entity – Tradeview Capital (https://tradeviewcapital.com/)	Misusing the name and credentials of Tradeview Capital Sdn. Bhd. (eCMSL/A0379/2022) 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 RM9,000 in 16 – 20 hours with investment of RM700 Misrepresentation and misuse of SC’s name
Potential clone entity – Wahed Invest (https://t.me/malaysia_berjaye4)	Misusing the name and credentials of Wahed Technologies Sdn Bhd (eCMSL/A0359/2019) 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 RM7,500 in 3-6 hours with investment of RM500 Misrepresentation, misusing SC’s name
Potential clone entity – Amundi Asset Management	Misusing the name and credentials of Amundi Malaysia Sdn Bhd (CMSL/A0231/2008) a licensed entity with SC for fund management in relation to portfolio management to carry out illegal investment scheme offering high returns e.g. return of RM8,500 in 24 hours with investment of RM600 Misrepresentation, misusing SC’s name and logo
Potential clone entity – Pelaburan Bursa Satu Malaysia (https://t.me/bursamaly \| https://t.me/bursasatumalaysia \| https://t.me/pelaburanbursasatumalaysia \| https://t.me/Bursah_malaysi \| https://t.me/tradersatumalaysia )	Misusing the name and credentials of Bursa Malaysia Berhad (an exchange holding company under the purview of the SC and the Ministry of Finance) to carry out an illegal investment scheme offering high returns e.g return of RM9,000 in 3-6 hours with investment of RM700 Misrepresentation and misuse of SC’s name and logo

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

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

As highlighted in our previous blast, the common key characteristics of the scams are as follows:-

Interested individuals/investors are randomly invited into a Telegram group. 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.