Forex trading leh......

People beware Forex scam.

Bank Negara Malaysia issued a statement regarding Forex trading in Malaysia:
http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1976

The article:

Ref No: 01/10/01

Embargo: For immediate release

Beware of Illegal Foreign Currency Trading Schemes

Bank Negara Malaysia would like to caution members of the public not to participate in any illegal investment or training programme on foreign currency trading offered by individuals or companies both domestic and foreign.

Members of the public are usually enticed to attend such investment or training programmes with promises of quick and good returns. The modus operandi of such programmes have included:

• Offering free training, seminars or workshops to lure investors, prior to inviting investors to set-up an online foreign currency trading account with a principal company (purported to have valid licence to trade foreign currency overseas);
• Providing convenient access to the principal company's website and trading facilities to facilitate online foreign currency trading by investors;
• Recruitment of fresh graduates as marketing executives and encouraging them to get their family and friends to trade foreign currency; and
• Requiring investors to deposit an amount of money into a bank account to begin trading foreign currency, and subsequently, requesting for a top up on their initial investment ("margin call") to avoid losing their capital.

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.

The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my).

For further enquiries, members of the public can contact Bank Negara Malaysia at:

BNMTELELINK (Customer Service Call Centre)
1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my

Bank Negara Malaysia
4 January 2010


The list of authorised dealers in Malaysia:
http://www.bnm.gov.my/index.php?ch=17&pg=697&ac=606

1. Affin Bank Berhad


2. Affin Investment Bank Berhad


3. Affin Islamic Bank Berhad


4. Al Rajhi Banking & Investment Corporation (Malaysia) Berhad


5. Alliance Bank Malaysia Berhad


6. Alliance Investment Bank Berhad


7. Alliance Islamic Bank Berhad


8. AmBank (M) Berhad


9. AmInvestment Bank Berhad


10. AmIslamic Bank Berhad


11. Asian Finance Bank Berhad


12. Bangkok Bank Berhad


13. Bank Islam Malaysia Berhad


14. Bank Muamalat Malaysia Berhad


15. Bank of America Malaysia Berhad


16. Bank of China (Malaysia) Berhad


17. Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad


18. CIMB Bank Berhad


19. CIMB Investment Bank Berhad


20. CIMB Islamic Bank Berhad


21. Citibank Berhad


22. Deutsche Bank (Malaysia) Berhad


23. ECM Libra Investment Bank


24. EON Bank Berhad


25. EONCAP Islamic Bank Berhad


26. Hong Leong Bank Berhad


27. Hong Leong Investment Bank Berhad


28. Hong Leong Islamic Bank Berhad


29. HSBC Amanah Malaysia Berhad


30. HSBC Bank Malaysia Berhad


31. Hwang-DBS Investment Bank Berhad


32. J.P. Morgan Chase Bank Berhad


33. KAF Investment Bank Berhad


34. Kenanga Investment Bank Berhad


35. Kuwait Finance House (Malaysia) Berhad


36. Malayan Banking Berhad


37. Maybank Investment Bank Berhad


38. Maybank Islamic Berhad


39. MIMB Investment Bank Berhad


40. OCBC Bank (Malaysia) Berhad


41. OSK Investment Bank Berhad


42. Public Bank Berhad


43. Public Investment Bank Berhad


44. Public Islamic Bank Berhad


45. RHB Bank Berhad


46. RHB Investment Bank Berhad


47. RHB Islamic Bank Berhad


48. Standard Chartered Bank Malaysia Berhad


49. Standard Chartered Saadiq Berhad


50. The Bank of Nova Scotia Berhad


51. The Royal Bank of Scotland Berhad


52. United Overseas Bank (Malaysia)

So the Forex you doing right now might be skim cepat kaya for the people that setting it up, beware, hehehehehehe.

I just chui sui only la.