Sign In

How to Avoid Becoming a Victim of Fixed-Income Investment Scam?

2024-04-02 Brokersview

How to Avoid Becoming a Victim of Fixed-Income Investment Scam?

Last year, BrokersView exposed the scamming truth about ‘Malaysia Islamic Trading’ and ‘Master Binary’, two criminal gangs that illegally offer unregulated investment schemes to Malaysian public members.


Scammers in Malaysia have been providing ‘fixed-income investment schemes’ to local investors. Despite several months having passed, it remains critical for all investors to remain vigilant against this type of scam. The common tactics they employ to entice people are frequently encountered in similar fraudulent schemes. Avoid them and protect your money.


Based on the evidence shared with BrokersView by victims, it becomes evident that these scams exhibit similarities. By recognizing these patterns, you can take steps to avoid becoming a victim yourself.


Nearly all victims of these scams discover the so-called “investment opportunities” via social media and chat apps. Since the operators of these platforms do not regulate illegal financial advertisements, investors must exercise greater discernment by questioning the legitimacy of the investment entities or seeking advice from BrokersView before making any investment decisions.


Chat group for scamming.


Such false investment advertisements often attract investors with extremely short periods and unbelievably high profits. While financial consumers who are knowledgeable about investment activities must find such profit margins unrealistic, novices who have never been involved in such activities find it difficult to recognize the truth.


Fake accounts and profits.


To bolster their claims, fraudsters frequently put on a performance for their peers, assuming the roles of prosperous investors who have supposedly amassed fortunes and transformed their lives via so-called “investment opportunities.”


Fraudsters frequently exploit the popularity of renowned traders or investment experts to promote their illicit services, creating a challenge for investors in discerning between authenticity and deception.


Scammer pretending to be legitimate firm.


Most importantly, no victim has ever successfully withdrawn their funds. Scammers employ a myriad of excuses to prompt victims to initiate transfers or to delay and deny withdrawals, again and again. Every victim has heard the criminal’s refrain: ‘As soon as you pay, you’ll be able to withdraw your money.’ Yet, none of them have ever received the funds rightfully owed to them.


Scammer persuading victim to pay.


The financial market is a mixed bag, with fraudsters taking advantage of people's desire for wealth to set up traps and wait for people to obediently deliver their wallets to the scammers. Before making any investment decision, exercise due diligence by verifying the legitimacy of the trading platform. Otherwise, what lies ahead may not be riches, but rather the anguish of substantial losses.