The Securities Commission (SC) has frozen two Malaysian bank accounts amounting to RM1.6 million, closed two websites and questioned several individuals believed to be connected to a global Internet investment scam run by Cambridge Capital Trading.
The SC investigated the scam for possible breaches of the Anti Money Laundering Act 2001 (AMLA). This was triggered by a request for assistance from the Dubai Financial Services Authority (DFSA), which was carrying out its own investigations.
Investigations by the SC led to a restraining order on the signatories of two Malaysian bank accounts, linked to the Internet scam, from any dealings with the respective bank accounts. The SC also secured the assistance of the National ICT Security and Emergency Response Centre (NISER) to close two websites linked to Cambridge Capital Trading that were hosted via an Internet Service Provider (ISP) in Malaysia.
The SC warned investors against the fraudulent investment scheme operated by Cambridge Capital Trading, which has thus far targeted Australian and Singaporean investors. The scam operators have been cold calling the public to invest in a host of products that are purportedly traded on the fictitious Dubai Options Exchange.
Investors are reminded to be on guard against cold calls from Cambridge Capital Trading. They should be wary of the claims on Cambridge Capital Trading and Dubai Options Exchange’s websites, www.cambridgecapitaltrading.com and www.dubaiex.com, which are still accessible as they are now hosted by a foreign ISP.
In addition, investors are also cautioned on a third fake website link to Cambridge Capital Trading, the United Arab Emirates Commodity Futures Board or www.uaecfb.com.
Members of the public are advised to alert the SC immediately if they receive such cold calls by contacting the Complaints Department at:
Tel: +603-6204 8999
Fax: +603-6204 8991
The public should be vigilant against possible Internet investment scams and only invest through parties licensed by the SC. They should also check with the SC or other relevant authorities on the licensing status of any local or foreign company before investing through such companies.