Investors, Beware

The Malaysian Direct Distribution Association (MDDA) warns the public to be aware of illegal schemes that offer high returns on their investments within a short period. These schemes camouflage their business and operate under a multi-level marketing (MLM) umbrella, but are not associated with the MLM or Network Marketing or Direct Selling Industry.

The public needs to be wary of investment scams and refer to the alert by Bank Negara Malaysia (BNM) on the list of companies and websites which are neither authorised nor approved.

“Only companies licensed by BNM under the relevant laws and regulations administered by BNM under Financial Service Act 2013 and Islamic Financial Services Act 2013 can provide financial services in Malaysia. A legitimate company will not offer returns from an investment exceeding 20% per annum for the first few months,” says Rosedy Issa, President of MDDA.


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