Stock markets across the world is experiencing massive influx of retail investors, with interest rates at all time low and governments throwing aid money, everyday man on street is turning to the markets for better returns. These inexperienced lots are now being target for scammers who are using unscrupulous methods and offering sure-win deals when investing through them. This is a serious problem that has gotten the authorities attention!
Bursa Malaysia (KLSE) has issued a statement warning investors to stay alert before participating in any investment schemes and activities. The Exchange has apparently observed a growing number of cases where the Bursa Malaysia name and corporate logo are being misused for marketing purposes by unscrupulous companies and websites.
According to Exchange, such activities often come in the guise of attractive investment returns or opportunities. These scams are often through unsolicited letters purporting to come from Bursa Malaysia or its subsidiaries, and marketing-related emails and postings on various social media platforms, carrying the official name and logo. Recipients are often asked to click on links leading to false websites or scam phone numbers.
Amidst the rise of social media investors like in Reddit with GameStop, Malaysia had its own movement with #BetBursa, when group of investors were betting against glove counters. To protect the sanctity of the Exchange, Bursa is advising the public to be careful and get hooked into investing without researching on fundamental values of the counters.
As for scammers, pay attention to suspicious website links or attachments that can contain phishing bugs, do not provide personal information or dat to unknown person or make payments without being certain the transaction is legitimate.