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Wednesday, January 06, 2010

Forex trading leh......

People beware Forex scam.

Bank Negara Malaysia issued a statement regarding Forex trading in Malaysia:

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:
  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.

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