Another Victim of Bursa Islamic! The Same Scam Being Played Over and Over Again

In May of this year, BrokersView received an expose from a user about the fraudulent broker Bursa Islamic in Malaysia, which scammed many investors with seemingly attractive investment conditions. Recently, another victim told us about how he was scammed by this company.

The victim claims that he saw an advertisement for investment packages posted by Bursa Islamic on Facebook. Through this ad, the user contacted a staff of the broker and was invited to a WhatsApp group chat.

Based on the evidence provided by the victims, we found that Bursa Islamic is currently claiming to be trading on much the same conditions as those previously exposed. The scammer has made changes to the specific amounts, but still promised unrealistic returns.

The victim claimed to have invested RM600 via remittance. After less than two hours, the staff sent a message saying congratulations to him on earning tens of thousands of ringgit in profit since the trader traded well. From the screenshot of the so-called account sent by the trader, the total balance of the account was RM20,315.9.

It is worth mentioning that the time between the remittance and the trader's claim of profit was just a few hours. However, the statistical chart in the screenshot shows that the account had investment records from July last year to June this year.

At the same time, the victim was also asked to pay a fee of 10% of the balance to the "trader".

At this point, the user realized that this is a scam and stopped the conversation with the person.

BrokersView reminds you

The so-called investment package offered by Bursa Islamic is actually a scam similar to "pig butchering", while the so-called "payment to the 'trader'" was just a pretext to scam. The scammers will always find more pretexts, with the amounts getting bigger and bigger. Even if the victim pays the required fees, it is impossible to get the "profit" in the end.