Malaysia Securities Commission Warns 22 Unregistered Financial Service Providers
In October, the Securities Commission Malaysia (SC) warned 22 unlicensed and potentially cloned entities for carrying on unregulated capital market activities.
Part of the warned entities misused details of authorized firms, including names, and the watchdog's name and logo. And some of the entities in the List may even be involved in fraudulent investment schemes. However, this list is not exhaustive and only guides investors before making any investment decisions, the SC Malaysia reminded.
Though the SC has named some of the scammers on its Alert List, more financial criminals are waiting for their prey.
The two entities operate as digital asset exchanges without authorization:
| Name |
LKEN BASE |
CoinW |
| Website | https://www.vaiek.com/ | https://www.coinw.com/ |
| Social media | / |
https://www.facebook.com/CoinWOfficialEN |
| Download | / |
https://apps.apple.com/us/app/coinw-buy-btc-eth-crypto/id1494077068 https://play.google.com/store/apps/details?id=com.coinw.win&hl=en |
| Screenshot of website |  |
 |
These entities operated as illegal investment schemes while carrying on unlicensed capital market activities. Some of the entities even misused SC's name and logo:
| Name | Website | Social media | Download | Screenshot of website |
|
Across Centuries / ArsCnuies |
https://acrosscenturies.com/ | / |
https://play.google.com/store/apps/details?id=com.trxrbtcwalldet.app https://apps.apple.com/us/app/arscnuies/id6753349230 |
 |
|
Finqix Lux / Clarum Monerra |
https://finqix-lux.com/ https://clarum-monerra.com/ https://dresswisdom.com/?utm_id=NXXqontY2P1BpuBiuBYl&utm_medium= Qd3QflwtEV&utm_campaign=uBUyUXrG78&utm_content= XWWHanSTqn&utm_visit=073efebb-41e4-4bd2-85df-127a26aed08 |
/ | / |
|
|
The RM Malaysian Trade |
/ | https://t.me/bancodeeglobal | / | / |
|
QCM Trading |
https://main.qcmtrading.net/ | / | / |  |
|
Irisefund |
https://i-risefund.com/user/login | / | / |  |
|
Algobi |
https://www.algobi.com/en/ |
https://www.facebook.com/1 00066633485729/posts/24649308841407775/ |
/ |  |
|
VeiMalaysia |
/ | https://www.facebook.com/veimalaysia | / | / |
|
STOXTRK / K-802 WWF Strategic Co-creation Club (WhatsApp) |
/ |
https://apps.apple.com/my/app/stoxtrk/id6751576795 https://play.google.com/store/apps/details?id=code.lkmobile.lk.uniplayer https://chat.whatsapp.com/CpeLZ6D6yeW3IUCSGk7QoB |
/ | / |
Investors are also advised to beware of entities carrying out unregulated financial service business:
| Name | Website | Social media | Screenshot of website |
|
Taurex |
https://www.tradetaurex.com/ |
https://www.instagram.com/trade_taurex/ https://www.facebook.com/tradetaurex https://x.com/tradetaurex |
 |
|
Versus Trade |
https://versus.trade/ |
https://www.instagram.com/versus.trade_official https://www.facebook.com/versus.trade.versus https://www.tiktok.com/@versus.trade |
 |
|
Velmorin Bridge Capital |
https://www.velmorin.hk | / |  |
| Capital Invest Trade | https://capitalinvesttrade.com/ | / |  |
|
Smart Trade Expert |
https://smarttradeexpert.com/ | / |  |
The SC found several potential clone entities that misused details of licensed financial businesses to provide financial services illegally. Some of them even mispresented the SC's name and logo. It is worth mentioning that Amanah Reit Global promised a return of RM8,500 in 48 hours with investment of RM400, offering unrealistic profit.
| Name | Legal firm misused by clones | Website | Download |
| Amtel Holding | Amtel Holdings Berhad (a company listed on Bursa Malaysia) | / | / |
| Amanah Reit Global | AmanahRaya-Kenedix REIT Manager Sdn. Bhd. (eCMSL/A0309/2013) |
https://www.amanah-reit.com/ |
/ |
| Rockefeller / RGFO Max | / | / |
https://play.google.com/store/apps/details?id=com.costuefvis.notivra&pli=1 https://apps.apple.com/my/app/rgfo-max/id6752787126 |
|
Navis Capital / DAC PRO |
Navis Management Sdn Bhd (CMSL/A0129/2007) |
/ |
https://chat.whatsapp.com/IlJeUGyJu9EC1tVcUDVZNa https://play.google.com/store/apps/details?id=com.costuefvis.duracore |
|
Bursam |
Bursa Malaysia Berhad |
https://bursam.jbonds.bond |
/ |
|
UBK Malaysia |
UOB Kay Hian Securities (M) Sdn Bhd (eCMSL/A0018/2007) | https://ubk-malaysia.com/ |
/ |
|
mt5sp.com |
Bursa Malaysia Berhad | / |
/ |
BrokersView reminds you
Scammers in Malaysia may promote fraudulent investment schemes on social media and promise unrealistic returns.
If you are not sure about your broker’s regulatory status, you are advised to ask BrokersView. The BrokersView team offers free license reviews for traders.
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