Kuala Lumpur , 12 June 2007
SC blocks six illegal investment websites, more to come – Public reminded to be wary of Internet investment scams
The Securities Commission (SC) in collaboration with the Malaysian Communications and Multimedia Commission (MCMC) and CyberSecurity Malaysia (formerly known as NISER) today blocked access to six websites offering illegal investment schemes to the Malaysian public. This follows its 31 May alert to investors on this action.
This exercise to block access to illegal investment websites will be done in stages and is an ongoing process, with more websites to be blocked in the following months as the SC continues its investigations.
The six websites, which have been blocked are:
- www.abbfund.com or www.abfund.us
- www.esuissefund.com or www.efmf.com.pa
The SC will continue to work together with the MCMC and CyberSecurity Malaysia to track, identify and block access to websites promoting investment scams. It will take all measures to fight illegal investment activities including taking enforcement action against operators and agents of illegal investment websites.
Between 1 June 2007 and 11 June 2007, the SC has received close to 700 enquiries relating to illegal internet investment schemes with some members of the public indicating that they have lost large sums of money. The public is advised to refer to the SC’s Frequently Asked Questions: “Do Not Invest in Illegal Internet Investment Schemes” available at www.sc.com.my .
Investors who are still participating in such illegal investment schemes via the Internet are reminded to withdraw their investments and terminate their accounts immediately. Investors will not be able to enter their accounts once access to the websites is blocked.
The SC website provides a non-exhaustive, periodically-updated list of known companies and websites which are not authorised nor approved under the securities laws to deal in securities, provide investment advice and/or fund management services related to securities or futures.
Members of the public are reminded that they should only invest with parties licensed by the SC to be accorded the protection provided under the securities laws. Lists of companies and individuals licensed by the SC to engage in investment activity are also available at the SC website.