The challenging economic times brought on by the Covid-19 pandemic were among reasons why some investors fell for investment scams that promised high returns within a short time, says the Securities Commission (SC).
Suruhanjaya Sekuriti Malaysia (SC) mendedahkan taktik penipuan pelaburan dan aktiviti skim pelaburan tidak berlesen menerusi media sosial semakin membimbangkan. Sumber SC berkata, kes yang dilaporkan meningkat 158 peratus dengan 548 aduan diterima pada tahun lalu berbanding 212 aduan pada tahun 2019.
The FCA is issuing a warning to the public as reports of ‘clone firm’ investment scams increased by 29% in April 2020 compared to March, when the UK went into its first lockdown. Action Fraud data reveals consumers reported losses of more than £78 million between January-December 2020. Throughout 2020, consumers reported average losses of £45,242 each on average when investing with fraudsters imitating genuine investment firms. The data has been released as part of the FCA’s ScamSmart campaign, alongside advice to help investors avoid fake firms and protect their hard-earned cash.
The SEC has recently experienced a significant uptick in tips, complaints, and referrals involving investment scams. The SEC’s Office of Investor Education and Advocacy urges investors to be on high alert in order to protect themselves and others from becoming victims of investment fraud.
Mark Damion Kawecki, of Frankston, Victoria, has been convicted and fined $30,000 in the Melbourne County Court for engaging in dishonest conduct related to attempts to artificially satisfy the minimum spread requirement for companies seeking to be admitted to the ASX.
The Federal Court has ordered the winding up of unlicensed financial services businesses, Secure Investments Pty Ltd (Secure Investments) and Aquila Group Pty Ltd (Aquila Group).
The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against five individuals and six offshore entities for an alleged fraudulent scheme that generated more than $25 million from illegal sales of multiple microcap companies’ stock, including four that were the subject of recent SEC trading suspension orders: Sandy Steele Unlimited Inc., WOD Retail Solutions Inc., Bioscience Neutraceuticals, Inc., and Rivex Technology Corp.
The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to warn investors about investment frauds involving claims that a company’s products or services will be used to help stop the coronavirus outbreak.
The SEC’s Office of Investor Education and Advocacy (OIEA) and the Division of Enforcement’s Retail Strategy Task Force are issuing this Alert to educate Main Street investors about current investment frauds, including scams related to the Coronavirus (COVID-19) pandemic.
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The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
