61 firms running illegal schemes identified
2 June 2007 (News Straits Times)

KUALA LUMPUR: The Securities Commission has identified 61 companies that are running illegal on-line investment schemes.
The names of these companies and their websites are on the SCs website.

The market regulator said it would block access to these websites from June 11 and advised those who had invested in them to withdraw their funds and terminate their accounts.

"Investors will not be able to enter their accounts once access to the websites is blocked," a spokesperson said yesterday.

The SC is joining forces with the Malaysian Communications and Multimedia Commission and CyberSecurity Malaysia to track, identify and block access to local and foreign websites promoting illegal investment schemes.

On the SCs website is a list of websites which are not authorised to deal in securities, provide investment advice and/or fund management services related to securities or futures.

"Members of the public are reminded that they should only invest with banks, financial institutions, fund managers licensed by the SC to be accorded the protection provided under the securities laws," said the spokesperson.