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How do I report a foreign currency trading scams? What action will be taken against such illegal operators?

If you have been offered a job to look for potential investors in foreign currencies or have been approached to invest in the foreign currency market from a company, you can lodge a report at the following address:
    Foreign Exchange Administration Department
    Bank Negara Malaysia
    Jalan Dato' Onn, 50480 Kuala Lumpur
    Telephone: (6) 03-2698 8044 ext 8211 or 8233 Fax: (6) 03-2691 3266 Website: www.bnm.gov.my


Bank Negara Malaysia continuously monitors foreign currency trading activities in Malaysia to detect any illegal activities. Actions, including raids on such illegal operators are continuously carried out by the Investigation Unit in Bank Negara Malaysia 1. Monies seized during raids will be confiscated and operators will be punished according to the law.

References
  1. The official website of Bank Negara Malaysia


Reprinted with permission from BankingInfo (A Consumer Education Programme)


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Knowledge Base ID :   1195
Last Reviewed :   April 25, 2014
Source :   BankingInfo
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