Alert: Scammers Clone Malaysia SC's Public Register to Perpetrate Investment Fraud

Today, the Securities Commission Malaysia (SC) issued a public alert that fraudulent platforms are spoofing its Public Register of License Holders and Registered Persons to defraud investors by fabricating Malaysia SC's regulatory licenses!

Upon entering the name of a fake entity to be enquired on this fake Public Register portal, the victim is presented with the information that the entity has been licensed by the SC Malaysia, which includes a fake company registration number, license details, and other fake credentials.

Victims are then persuaded to transfer funds to the fraudulent platform's mule bank account purportedly for investment purposes.

Since the discovery of the scam, SC Malaysia has taken immediate steps to shut down the identified cloned websites.

Investors are reminded that the official Public Register portal of SC Malaysia is www.sc.com.my. Malaysia SC urges investors to remain vigilant and not click on random links from unknown sources, and warns investors not to transfer funds to suspicious entities.

BrokersView’s warning

Beyond financial institution impersonation, scammers often pose as government officials and representatives of regulatory agencies to defraud victims, especially those already duped by previous investment scams.

Recently, the U.S. Commodity Futures Trading Commission (CFTC) issued a warning about fraudsters impersonating its Office of Inspector General, falsely offering to help victims recover lost funds from foreign bank accounts.

As scammers frequently use imposter websites and emails, investors are advised to remain skeptical of unexpected messages allegedly from regulatory bodies, verify authenticity independently, and refrain from sharing personal information or making financial transfers without proper due diligence.

For further verification, investors can Ask a Question on BrokersView for insights into identifying legitimate websites and avoiding scams.