{"id":16866,"date":"2023-04-13T12:39:42","date_gmt":"2023-04-13T04:39:42","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=16866"},"modified":"2023-04-13T12:39:43","modified_gmt":"2023-04-13T04:39:43","slug":"beware-of-clone-financial-planning-firm-scams-association","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=16866","title":{"rendered":"Beware of clone financial planning firm scams: Association"},"content":{"rendered":"\n

KUALA LUMPUR, April 13<\/strong> — The Financial Planning Association of Malaysia (FPAM) has advised the public to be wary of dubious investment schemes that use the name of legitimate financial planning firms.<\/p>\n\n\n\n

In a statement today, FPAM warned that scammers would use financial planning companies’ key names on bogus companies to confuse the public and add them to social media chat groups while pretending to represent legitimate financial planning firms.<\/p>\n\n\n\n

\u201cThey also offer dubious investment schemes that promise high returns and post bogus investor testimonials to show proof of transfer receipts and making profits to gain the confidence of potential victims,\u201d it said.<\/p>\n\n\n

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\"financial<\/figure><\/div>\n\n\n

The association said that nine financial planning firms — all of them members of the association — have had their names cloned to promote illegal schemes. <\/p>\n\n\n\n

\u201cTheir actual names are Wealth Vantage Advisory Sdn Bhd, Genexus Advisory Sdn Bhd, Excellentte Consultancy Sdn Bhd, Alpine Advisory Sdn Bhd, UOB Kay Hian Securities (M) Sdn Bhd, CC Advisory Sdn Bhd, Harveston Wealth Management Sdn Bhd, iFast Capital Sdn Bhd and Kenanga Investors Bhd,\u201d it said.<\/p>\n\n\n\n

To protect from being scammed, FPAM advised members of the public\u00a0to check with the Securities Commission Malaysia\u2019s (SC)\u00a0list of licensed and registered persons\u00a0and check with the firm itself\u00a0before making any payments or investments.<\/p>\n\n\n\n

\u201cVictims of these scams should immediately report to the National Scam Response Centre by calling their hotline, 997, and also file a report with the SC,\u201d it added.<\/p>\n\n\n\n

NMT<\/a> as reported by BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, April 13 — The Financial Planning Association of Malaysia (FPAM) has advised the…<\/p>\n","protected":false},"author":1,"featured_media":16867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[524],"tags":[],"class_list":["post-16866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM.png",1548,1042,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM-300x202.png",300,202,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM-768x517.png",640,431,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM-1024x689.png",640,431,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM-1536x1034.png",1536,1034,true],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM.png",1548,1042,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM.png",1255,845,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM.png",1024,689,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-13-at-12.38.22-PM.png",706,475,false]},"author_info":{"info":["Editor"]},"category_info":"Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/16866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16866"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/16866\/revisions"}],"predecessor-version":[{"id":16868,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/16866\/revisions\/16868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/16867"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}