Latest news with #SecuritiesCommission
Borneo Post
3 days ago
- Business
- Borneo Post
Middle-aged Sibu man fleeced of RM88,233 by bogus online investment
Photo for illustration purposes only. — Photo from Max Pixel SIBU (July 17): A man in his 50s here lost RM88,233 of his hard-earned savings after falling victim to a bogus online investment scheme. Sibu police chief ACP Zulkipli Suhaili said the victim lodged a report yesterday after realising he had been duped. 'The victim was added to a WhatsApp group named 'Group VIP' on April 11. 'In the group, a woman identified as 'Ruth Khoo' invited him to join a so-called lucrative stock investment opportunity,' he said in a statement today. Lured by the convincing discussions within the group, the man proceeded to make six deposits amounting to RM88,233 into three different local bank accounts. 'After his first transfer, he was told he had already made a profit. 'However, he was then asked to make additional payment, supposedly for taxes to Bank Negara Malaysia and the government in order to withdraw his returns,' said Zulkipli. The man never received any profit from the scheme. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli reminded members of the public to be vigilant and verify the legitimacy of any investment offer before parting with their money. 'We urge the public to check with official platforms such as the Bank Negara Malaysia website, the Securities Commission, or use the Investment Checker app,' he said. For further assistance or advice, contact the National Scam Response Centre on 997 or visit Semak Mule at lead online investment scam Zulkipli Suhaili
Bloomberg
09-07-2025
- Business
- Bloomberg
SEC's Peirce Says Tokenized Securities Must Comply With Rules
Putting digital versions of stocks on a blockchain doesn't mean companies can skirt US securities laws, the Securities and Exchange Commission 's Hester Peirce said Wednesday. 'As powerful as blockchain technology is, it does not have magical abilities to transform the nature of the underlying asset,' Peirce said in an online post. 'Tokenized securities are still securities.'
Malay Mail
09-07-2025
- Business
- Malay Mail
Terengganu engineer conned of RM71,000 in fake China-linked investment scheme
CHUKAI, July 9 — An engineer has ended up RM71,000 poorer after falling victim to a non-existent investment scheme. Kemaman police chief Supt Mohd Razi Rosli said that the 40-year-old man came across a share investment scheme advertisement on Facebook on April 8 and contacted a woman for more information. He said the woman managed to get the engineer to join a share investment scheme offered by a company from China, which promised lucrative returns, by using a certain app. 'The victim initially made a small investment and received a profit of RM600. Excited, he then took a risk and invested RM71,000 between May 27 and June 26,' he said in a statement today. Mohd Razi said the engineer only realised he had been duped when he failed to get the returns promised and could not get in touch with the suspect. 'Make sure companies or individuals offering investments are registered and confirmed to be under the supervision of the Securities Commission Malaysia. 'In addition, the public can also contact the National Scam Response Centre (NSRC) hotline at 987 for confirmation before making an cash transactions to third party accounts,' he said. — Bernama
New Straits Times
08-07-2025
- Business
- New Straits Times
SC, Durham University forge partnership to advance Islamic finance education
KUALA LUMPUR: The Securities Commission (SC) has signed a memorandum of understanding (MoU) with Durham University to strengthen collaboration in Islamic finance education, research and innovation. The MoU includes the newly launched Islamic Capital Market (ICM) Summer School initiative, which the Durham University Centre for Islamic Economics and Finance organises in collaboration with its Business School. The initiative aims to equip professionals with strategic leadership skills and a deeper understanding of Maqasid al-Shariah in Islamic capital markets. SC chairman Datuk Mohammad Faiz Azmi said the initiative is a milestone in nurturing future leaders of Islamic finance. "This is driven by a shared commitment to advance capacity and thought leadership in the industry, from practitioners to seasoned scholars," he said in a statement. "By embedding Maqasid al-Shariah principles, we aim to build an ethical, sustainable and innovative capital market." He said the programme aligns with the values outlined in the Maqasid al-Shariah Islamic Capital Market Guidance introduced by the SC in 2023. Durham University vice-chancellor and warden professor Karen O'Brien said the university has a long-standing contribution to Islamic finance research and education. "Durham has a history of over 30 years in Islamic finance research and has trained over 1,500 individuals through our summer school since 2006. "This new partnership will continue to train and inspire current and future leaders, upholding a tradition of thought, practice and leadership," she said. Running from 2025 to 2027, the ICM Summer School will offer one cohort annually, starting in the third quarter of 2025. Each cohort will include 15 participants in a month-long hybrid programme. The curriculum will cover key areas, including sukuk, Islamic equities, Shariah-compliant products, fintech, sustainability, regulatory frameworks, and product innovation. A core emphasis will be placed on the application of Maqasid al-Shariah principles to foster a more inclusive and resilient Islamic capital market. Targeted at mid- to senior-level professionals with at least five years of experience in the Islamic finance industry, the programme combines online modules and a five-day in-person masterclass at Durham University. Graduates will receive joint certification from the SC and Durham University.
Free Malaysia Today
08-07-2025
- Business
- Free Malaysia Today
6 finance and investment resources for young Malaysians
Check out these five local resources, plus one from the US, that can help you kickstart your way to financial freedom. (Envato Elements pic) In today's world of endless knowledge, it can be hard for young Malaysians to identify relevant financial and investment resources from which to learn. This isn't easy even for parents, uncles and aunties who want to mentor the younger generation. According to the Securities Commission (SC) Malaysia, young people cite the following as the biggest barriers to investing: Risk appetite (cited by 82% of respondents): concerns over investments being high-risk; frauds and scams; losing money. Well-being and accessibility (74%): not enough money to invest, lack of time and financial education. Knowledge (69%): lack of know-how or reliable sources of this in mind, here are seven finance and investment resources online that could be useful for young Malaysians. 1. Financial Education Network (FEN) The Financial Education Network could be the best resource with which to start. The interface is accessible and interactive as it first asks you which life stage you are at – student, youth, adult, or retiree. From there, you can decide on which financial objective you'd like to learn about. For example, by choosing 'youth', you are then able to select from 'earn', 'save', 'manage', 'grow', 'protect', or 'business'. Each option brings you to a list of resources you can refer to. Note that FEN is more of a gateway that connects you to relevant websites and organisations that have content. It also has some engaging and informative infographics on personal finance. 2. Belanjawanku by EPF This publication by the Employees Provident Fund (EPF) provides estimates of monthly spending on various goods and services to achieve a 'reasonable' standard of living in major cities in Malaysia, by family size. These goods and services include: food; housing; healthcare; utilities; childcare; personal savings; adhoc; social participation; transportation; and personal care. By providing guidance on what spending should look like, Belanjawanku is a good reference point for young Malaysians to plan their current and projected expenses and income, and to initiate conversations regarding career path, investments, budgeting, goal setting and so on. 3. RIA by EPF While retirement is very far away for young people, it is a very important topic to think about. According to the Khazanah Research Institute, many young Malaysians in the workforce are unprepared and unable to save for their retirement. The Retirement Income Adequacy (RIA), set to be published by EPF in January 2026, will set out targets in Malaysians' EPF accounts to achieve the following savings amounts by age 60: adequate savings: RM650,000; basic savings: RM390,000; enhanced savings: RM1,300,000. The publication also provides a table that lists how much young adults should ideally save for retirement: The power of compounding is your friend. By being aware of retirement figures, youngsters can better plan their finances so as to take into consideration the amounts they ought to set aside. The earlier they begin, the less demanding the sum, especially as they harness the power of compounding. 4. Kelab Pelaburan Bijak (KPB) by ASNB For teens in secondary school who are keen to learn more about their personal finances, KPB could be a good place to go. The programme, established by Amanah Saham Nasional (ASNB) and available in many schools in Malaysia, is like a co-curricular club that exposes students to personal finance and investments. According to the SC, 51% of youths consider talks and seminars to be the most effective in learning. As such, a club in school can help students gain access to such events as well as online resources. However, not every school has a KPB. Check the website for more details, and do talk to your child's school principal or parent-teacher association to get conversations rolling. 5. Invest Smart by the SC Invest Smart was established by the SC in 2014 to help everyday folks learn more about investments, particularly scams. It offers several ways of delivering information that could be appealing to young adults: infographic visuals – mainly about the latest scams and how to avoid them, such as the one below; videos, primarily anti-scam content; webinars and podcasts, specifically 15-series podcasts about investments in Malaysia. (Invest Smart pic) Fun fact: Invest Smart recently collaborated with local comedian Douglas Lim to talk about anti-scam topics! 6. Money Smart by the FDIC This US government financial literacy programme is targeted at young adults and run by the Federal Deposit Insurance Corporation. Money Smart is free and consists of 12 personal-finance modules applicable to almost everyone regardless of country. These are: banking; setting goals and making financial decisions; making the most of your income; your spending and saving plan; saving for your goals and future; building your credit history; borrowing basics; charge it right (credit cards); protecting your money and identity; buying a car; paying for education and training; and living on your own. If you are the parent of a teen or young adult, consider sharing these resources with them to further develop their financial knowledge. Initiate conversations and get them to talk about what they are learning. Who knows, you might learn a new thing or two, too! This article was written by Su-Wei Ho for MyPF. To simplify and grow your personal finances, follow MyPF on Facebook and Instagram. Read more articles from MyPF here.
