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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The Tragic Irony of Anfi Del Mar’s Decade Of Madness

Anfi Resort remains one of Europe’s top timeshare complexes, but a 10-year spree of getting holidaymakers to sign illegal timeshare contracts is costing it dear.

When the Anfi Resort Complex opened for business in 1992 it was one of the world’s most luxurious timeshare resorts. Its focus on quality and service made it a cut above most of Gran Canaria’s hotels and accommodation. Years later, it’s still one of Europe’s leading timeshare resorts and remains unmatched in Gran Canaria. 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