Recently, the Securities Commission Malaysia (SC) has added two cloned entities and one unauthorised forex broker to its Investor Alert List.
According to the updates, these companies are conducting suspicious capital market activities but without a licence from the SC. Here is the list:
1.Yunikon FX
• Carrying on unlicensed capital market activities of dealing in securities
2.Potential clone entity- FTX Investments Malaysia
• Possible clone operating an illegal investment scheme offering high returns e.g. return of RM15,000 in 6 hours with investment of RM1,000
• Carrying on unlicensed capital market activities of dealing in securities
3.Potential clone entity- Lite Forex
• Possible clone operating an illegal investment scheme offering high returns e.g. return of RM7,000 with investment of RM500
• Carrying on unlicensed capital market activities of dealing in securities
As a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market, the watchdog is here to inform investors that the three firms do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities under the Capital Markets and Services Act 2007.
