Global Finance, a platform that has been warned by the Malaysian Securities Regulatory Commission, citing Carrying on unlicensed capital market activities of dealing in securities.
The reason Global Finance was warned was because Malaysian citizens were deceived on it. From the victim's story of being deceived, it can be seen that Global Finance's fraud tactics are not novel either.
Withdrawal requires a processing fee of 4500 to be paid first
The victim was brought into the Telegram group by netizens because she was curious about the chat content in the group, so she never withdrew from the group and only silently followed the messages within the group. The main conversation in the group is about investment and financial management, and every day, people share their income situation. Over time, the victims who originally did not understand investment were also moved to follow suit.
The trading platform that is constantly mentioned in the group is called Global Finance, and naturally, the victim netizens also entered this platform with the recommendation of the group members. She made her first deposit of RM1000, and the administrator assured her that she would soon make a profit of RM30000. At first, the victim netizens just wanted to give it a try and didn't really believe it. But as a result, the promise made by the administrator was quickly 'implemented'. This makes netizens excited.
However, when she went to withdraw the 30000 ringgit, she was informed by the Global Finance platform that "a processing fee of 4500 ringgit needs to be paid first". This request has aroused the suspicion of the victim netizens, who realize that their investment is not really profitable, but has encountered fraud.
Ai Hui Cha Reminder:
Recently, there have been many investment and financial scams in Southeast Asia, and these scams have two significant characteristics: firstly, the investment threshold is very low, and you can participate in investments in just a few hundred ringgits, so many netizens are tempted to invest impulsively; In addition, the returns promised by such scams are high, at 300% or even higher, and this return will quickly be visible to victims. Please be vigilant against such scams.
