ITRA Online Blog

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illegal Investment Company under BNM (updated Jan 2018)

On 17 January 2018, Bank Negara Malaysia (BNM) has released a new update for illegal Investment Company which are neither authorized nor approved under the relevant laws and regulations administered by BNM. The list only serves as a guide to members of the public based on information and queries received by BNM. Most of the company in the list are Illegal Foreign Exchange Trading Scheme and Illegal gold investment company.
The company/individual listed as illegal because they’re not an authorized dealer or has not obtained the permission of the Controller of Foreign Exchange under the Exchange Control Act 1953 (ECA). It is also illegal to trade foreign currency by a resident who is not an authorized dealer, with a person outside Malaysia, or by a resident who has not obtained the permission of the Controller of Foreign Exchange under the ECA.

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Boiler Room scams in Malayian

International Post:
Calling out to Malaysian victims of, “Boiler Room scams”.
We have been flooded with calls and emails from Malaysian victims in the last six months. These victims report being scammed by Boiler Room style calls offering amazing returns on penny stock options and IPO offers. If you have fallen victim of such please feel free to email us in total confidence to:
itra@ftageurope.eu
Your enquiry will be acted on immediately and treated with the upmost confidence. read more

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[BEWARE:PATONG HUSTLERS] Absolute Hotel Scam @ Phuket,Thailand

700Avoid Club Absolute in Phuket, Thailand! They run a scam where they have people on the street with a fake competition where you scratch a card and win a great prize, which is always a week’s holiday with their company (no flights or anything, just a week’s accommodation in a low quality hotel which you will struggle to book in popular times). read more

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LTA warns of ‘investment’ scam involving KL-Singapore High-Speed Rail project

SINGAPORE: The Land Transport Authority (LTA) on Wednesday (Oct 11) issued a warning about an investment scam involving the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.

Scammers have been using fake documents including contracts, bonds and construction drawings to con people into “investing” in the HSR project, LTA said in a Facebook post. read more

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Timeshare Alert

SCAMBUSTERS ON YOUR SIDE
BEWARE TIMESHARE SCAMMERS
Wyndham Vacation Resorts Asia Pacific advises extreme caution in providing your credit card or personal details to any individual or entity offering heavily discounted credits, or quick resale of your Vacation Credits.\
AS A REMINDER: Wyndham does not sell or provide Owner information to non-Wyndham companies. We strongly recommend that you always confirm that you are speaking with a Wyndham representative before engaging in any dialogue about your Ownership.
Wyndham and its official representatives only sell freshly issued credits, not second-hand credits that are sometimes available.  Any person offering to sell you second-hand credits are either not a Wyndham representative or are acting outside of their authority. read more