The Securities Commission Malaysia (SC) has issued a warning to the public about a new investment scam involving fraudulent Information Memorandums (IMs). These scams falsely claim that the IMs have been lodged with or endorsed by the SC to lure investors into fraudulent schemes.
According to the Capital Markets and Services Act 2007 (CMSA), unlisted public companies raising funds through IMs must lodge them with the SC within seven days of issuance to potential investors. However, the SC clarified that such lodgment does not imply its endorsement.
In a recent case, a company falsely claimed that it had lodged an IM with the SC, misleading investors and giving undue credibility to its investment scheme. The SC has confirmed that the company failed to lodge any IM and suspects it is part of a broader investment scam.
The SC has taken immediate action by filing a police report and adding the company to its Investor Alert List, accessible at [SC Investor Alert List].
The SC stresses the seriousness of such deceptive acts, as they may mislead the public into believing that the SC endorses the investment. To safeguard themselves, the public is urged to verify any investment claims involving the SC or its officers.
Investors can check the legitimacy of investment offers through the SC’s Investment Checker at [www.sc.com.my/investment-checker](http://www.sc.com.my/investment-checker). Reports or inquiries can be directed to the SC’s Consumer and Investor Office at +603 6204 8999 or via email at aduan@seccom.com.my.
Stay vigilant and ensure you make informed investment decisions.
