9 Takeaways from InvestSmart Fest held by Securities Commission Malaysia (SC)
Capsphere visited the Securities Commission Malaysia (SC) InvestSmart Fest 2022 last
week at the Kuala Lumpur Convention Centre.
As the Malaysian capital market regulatory agency, (SC) held events as such with the goal to educate investors to deepen their investment knowledge.
In the first nine months of this year, (SC) received 1,851 complaints and enquiries about illegal activities and investment scams in Malaysia.
The following are the synopsis of our personal perspective from the event:
1. Shift in retail investors' behavior which prefer managing their own investments.
2. (SC) introduced a few new digital products.
3. There is also an increase in scams and investors loses highlights investor vulnerabilities over 72k scams 5.2bil, investments scam accounted for 12k.
4.(SC) received more than 1k complaints related to unlicensed activities, more sophisticated ways range from vulnerable irrespective of risk. Spread through WhatsApp, telegram and Facebook also claiming to be Shariah.
5. Minister points out that any platform that wants to provide Investments needs to be registered with (SC) even though it is licensed overseas.
6. Investors trading on unlicensed platforms will have no protection.
7. There is also increased use of celebrities' unlicensed endorsements to talk about investment, and the public should be wary of self investment guru spreading false info.
8. (SC) has collaborated with partners by informing the public on websites, block websites etc.
9. Final remark: never deposit in someone else's account and deal with licensed platforms.
Capsphere takes precautions to provide a risk-free environment not only for first-time investors as well as those with extensive prior experience. In addition to this, we are recognised as being compliant with Shariah law and are registered with the Securities Commission of Malaysia (SC).
Visit https://www.capsphere.com.my to learn more about the investing opportunities that are available through Capsphere or sign up for an account at https://bit.ly/3yeFbZf . You can also get in touch with us at https://www.capsphere.com.my/contact-us.