Speech at Bersama InvestSmart® @ Pahang 2025

Speaker: Dato’ Mohammad Faiz Azmi, Chairman, Securities Commission Malaysia
Location: East Coast Mall, Kuantan, Pahang

Delivered: 20 June 2025

Yang Berhormat Dato' Mohamad Nizar bin Dato' Sri Mohamad Najib, Pengerusi Jawatankuasa Pelaburan, Perindustrian, Sains, Teknologi dan Inovasi Negeri Pahang Darul Makmur,

Tetamu-tetamu kehormat,

Rakan-rakan media,

Tuan-tuan, puan-puan dan para hadirin sekalian,

Assalamu’alaikum warahmatullahi wabarakatuh dan selamat petang.

Welcome to Bersama InvestSmart in Pahang Darul Makmur!
Coincidently, the theme of InvestSmart is "Bijak Labur Hidup Makmur". It is a simple reminder that smart investing, with the right knowledge, can help you build wealth and enjoy a comfortable retirement.
So why is the Securities Commission here in Kuantan? First, we want to emphasise how important it is to plan your finances for your retirement.
In 2024, individuals aged 60 and above comprised 11.6% of the total population, and this number is projected to increase to over 17% by 2040. Malaysia is currently categorized as an "ageing nation” and is expected to reach "aged nation" status by 2043. Furthermore, Malaysia is projected to become a "super-aged" nation by 2057, with 20.5% of the population aged 60 and over.
Second, we are here to showcase opportunities within the capital market that can help you grow your wealth.
And third, we want to raise public awareness on the growing dangers of investment scams and fraud. Jangan kena TIPU.

Retirement and Financial Planning

Ladies and Gentlemen,

Let’s discuss about why retirement and financial planning are so important to all of us.
According to Department of Statistics Malaysia, babies born in 2024 will live up to 75.2 years on average. That is longer than in previous years, meaning we’ll need a lot more savings for our later years as we will grow older, InshaAllah.
Many of us rely heavily on EPF savings, but studies show that a 65-year-old retiree may need between RM300,000 and RM500,000¹ just for basic healthcare. RM1,500 per month may not cover expenses with today’s rising costs.
This is why it is important to build wealth that will support you in retirement.
You don’t need to be rich to start. The capital market offers many affordable options such as unit trusts, private retirement schemes, stocks, retail bonds and many other options. Experts suggest you need to save at least 10% of your earnings every month.
Thanks to digital innovations like equity crowdfunding (ECF) to peer-to-peer (P2P) financing and Digital Investment Management (DIM), you can start investing with as little as RM50.
I strongly encourage everybody to start planning earlier, ideally in your 20s or 30s. You have to secure your future but do it smartly.
To help you on this journey, there will be free one-to-one financial planning consultation sessions with licensed financial planners through our#FinPlan4u® initiative. There are over 100 slots throughout the 3-day event, brought to you in collaboration with the Financial Planning Association of Malaysia (FPAM) and the Malaysian Financial Planning Council (MFPC). A big thank you to both partners for being here today.

Scams and Unlicensed Activities

Let me now touch on scams, which are becoming a big problem. PDRM reported over 35,000² scam cases in 2024 alone, with losses amounting to RM1.6 billion. That’s a 3% increase from 2023.
At the SC, we received 3,602 complaints and enquiries about scams and unlicensed activities in 2024. That’s a 10% increase compared to 2023. As of May, this year, we have already received 1,218 complaints and enquiries.
In the past, scams were easier to spot but scams have evolved. We’re seeing deepfakes that impersonate public figures, fake chat groups, love scams, fake job offers and clone firm scams that fraudulently impersonate SC’s licensed intermediaries.
One common way scammers operate is by asking you to transfer money into a mule bank account – a stranger’s bank account. This makes it extremely difficult to get your money back. So please, never transfer money unless it is a verified account of a licensed financial company.
We are also seeing scammers asking victims to invest using cryptocurrency to avoid being caught. If you deal with cryptocurrencies, do not transfer funds to unknown wallet addresses.
Some scammers even falsely claim their schemes are ‘Shariah-compliant’, to gain trust by using religious sentiment. Just hearing the words ‘Shariah-compliant’ is not enough. You need to do your research.

SC’s Action on Scam and Unlicensed Activities

You may be wondering, what is the SC doing to fight scams? This is an ongoing battle, and we are actively fighting it.
We have ways to detect and disrupt scams - such as immediately adding names to our Investor Alert List and working to block fraudulent websites and social media pages.
In 2024, we added 273 names to the Alert List, and in the first quarter this year, we have added another 59.
We work closely with the Malaysian Communications and Multimedia Commission (MCMC) to block these deceptive sites. Last year we blocked 153 websites and 261 social media pages. In the first quarter, we have blocked 29 websites and 91 social media pages. These numbers show how much illicit activity we are fighting daily.
Globally, we are working with other countries in the Asia-Pacific region to pressure social media platforms to take down harmful content faster. This is a global fight, and we need international co-operation.
I am happy to share that the SC recently signed the International Organization of Securities Commissions’ (IOSCO) Enhanced Multilateral Memorandum of Understanding (EMMoU). This agreement will help us get and share information for cross-border enforcement, which is important because scams operate across different countries.
With more international co-operation, we are better able to find and take co-ordinated action against scam activities. We are fighting back with every tool we have.

Conclusion

Please make full use of the various programmes that we have lined up for you over the three days here.
There are more than 40 exhibitors ready to share information and answer any questions. Engage with them, learn from them.
There are also more than 30 public talks and panel sessions with industry experts giving insights on the Malaysian capital market and how you can be part of it.
Finally, please visit our anti-scam zone, which includes the SC, the Association of Banks Malaysia (ABM) and the National Scam Response Centre (NSRC). This is your one-stop centre to get the knowledge and tools to protect yourself and your loved ones from scams.
Before I end, let me leave you with our TIPU formula, a quick way to identify red flags.
Tidak Akan Rugi – No legitimate investment is without risk, and anyone who tells you otherwise is not being truthful.
Indah Khabar Dari Rupa – Promises that sound too good to be true.
Peluang Hanya Sekali – Be wary of ‘once-in-a-lifetime’ opportunities or pitches. This tactic is meant to pressure you into making a quick decision without proper research or due diligence.
Untung Besar – This means unrealistically high returns. But high returns come with high risks, and investments that claim to make you a lot of money in a short amount of time are usually traps.
Always be alert and use our SC Investment Checker, which we launched last year, to verify whether an individual or entity is authorised to offer investment services. This simple check can be the difference between financial stability and utter ruin.

With that, I wish you a productive few days ahead and Jangan Kena TIPU!!

Moomoo Technologies Inc
Exact number of cases: 35,368