Bursa M'sia warns public on scammers impersonating its management on social media
18 May 2023 10:48pm
In a recent case, it said the scam perpetrator impersonating as Muhamad Umar is recommending a book on stock trading, claiming that it is a free gift to those who click on the conversation link.
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In particular, there have been a rising number of pages and sponsored advertisements on Facebook that fraudulently use the name and photo of Datuk Muhamad Umar Swift, chief executive officer of Bursa Malaysia, said the exchange in a statement.
"The exchange would like to reiterate that these pages and postings have no relation to Datuk Muhamad Umar Swift or the exchange, and measures have been taken to report and remove them,” it said.
In a recent case, it said the scam perpetrator impersonating as Muhamad Umar is recommending a book on stock trading, claiming that it is a free gift to those who click on the conversation link.
Other permutations of scam cases invite users to join groups on messaging apps such as Telegram or WhatsApp to receive stock tips.
The exchange cautions members of the public on sponsored advertisements on social media as they only appear to specific users based on algorithm parameters set by the scammer.
"Bursa Malaysia employees will never provide stock tips or books from personal accounts, nor will contact information of investors be solicited from non-official channels,” it said.
The exchange urged members of the public who receive sponsored advertisements claiming to be from Bursa Malaysia or their representatives to email it to [email protected] with a screenshot and the URL of the advertisement, to facilitate take down of false and illintentioned pages.
"Remember, when in doubt, always verify and report,” it said, adding that a list of known scam alerts are provided on the Bursa Academy (https://bursaacademy.bursamarketplace.com/en/investor-alert) website.
Meanwhile, the Securities Commission Investor Alert List at https://www.sc.com.my/regulation/enforcement/investor-alerts/sc-investoralerts/investor-alert-list contains a list of unauthorised websites, investment products, companies and individuals.
"Members of the public who have fallen prey to scams are advised to contact the National Scam Response Centre at 997 and lodge a report,” added the exchange.
It said those interested to learn about the stock market and obtain credible analyst research reports can visit Bursa Malaysia’s website www.bursamalaysia.com and official microsites -- Bursa Marketplace (https://www.bursamarketplace.com/) to learn the basics of investing, and Bursa Academy (https://bursaacademy.bursamarketplace.com/en/home) − a one stop e-learning platform that covers three markets namely equities, derivatives and Islamic capital markets. -Bernama
