ALERT DON'T FALL FOR UNLICENSED INVESTMENT - A REMINDER BY NIK ZAFRI

Many individuals remain unaware of the necessity for proper licensing from regulatory bodies when engaging in trading activities related to finance, funds, shares, derivatives, and precious metals. Both individuals and the companies they operate must obtain appropriate licenses.

For detailed information, please consult the Capital Markets and Services Act 2007 (CMSA) administered by the Securities Commission. Further reference can also be made to The Banking and Financial Institutions Act, 1989 or Companies Act 1965.

In the case of Gold, Bullion, or FOREX trading, refer to the Exchange Control Act 1953 (ECA 1953), which falls under the direct jurisdiction of Bank Negara Malaysia.

It is crucial to stay informed about these regulations to prevent direct or indirect involvement in illicit activities such as money laundering (The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 - AMLA) or even bribery (Malaysian Anti-Corruption Commission Act 2009).

Avoid seeking loopholes in these regulations. Exercise caution and skepticism, especially when confronted with photos, screenshots of bank accounts, Get Rich Quick Schemes, unlicensed Multi-Level Marketing/Pyramid Schemes, or any other dubious schemes.

Despite current challenges, refrain from adding unnecessary burdens that may lead to suffering for yourself and your loved ones. Stay vigilant and adhere to regulatory guidelines to ensure a secure and lawful financial environment.