The scam involves the perpetrators falsely claiming that individuals are “under investigation” by the SC for market offences such as insider trading and market manipulation.

Victims will then be pressured to pay a “guarantee deposit” — purportedly up to RM500,000 — to avoid alleged legal action, including arrest or prosecution.

The modus operandi of this scam has the characteristics of a Macau Scam, where the SC’s name has been misused to deceive victims into making payments.

As a regulatory body, the SC does not endorse any investment schemes, solicit monies from the public or demand deposits in any form for regulatory investigations.

The SC would like to urge the public to be cautious and verify any investment offers through the SC’s Investment Checker at www.sc.com.my/investment-checker.

If you receive any requests for payment claiming to be from the SC or its staff, please contact the SC’s Consumer and Investor Office at [email protected] or call 03 - 6204 8999 to verify or to report it.