Warning – both Datuk Muhamad Umar Swift and Bursa Malaysia are NOT giving out free stock investment advice or books!
Find out what’s going on, and warn your family and friends!
Bursa Malaysia Stock Investment Scam Alert!
Scammers are running Facebook advertisements that claim that Datuk Muhamad Umar Swift and/or Bursa Malaysia are giving free investment advice, or free books on stock investing!
Recommended : How To Block Facebook Ads + Pay Scammers!
Bursa Malaysia Investment Scam : What You Need To Know!
These Datuk Muhamad Umar Swift and/or Bursa Malaysia free book / investment group scams are being promoted heavily on Facebook in 2023, so please alert your family and friend!
Fact #1 : Bursa Malaysia Reported These Ads As Fake
Bursa Malaysia is aware of these fake advertisements on Facebook, posting this scam alert on May 17, 2023:
Fact #2 : Bursa Malaysia Is Not A Charity
Please do NOT be naive. Bursa Malaysia is not only the stock exchange of Malaysia, it is also a public listed company, whose focus is to make money, not a charity to give you free books or advice!
Datuk Muhamad Umar Swift is not only the CEO of Bursa Malaysia Berhad, he is also the director of its subsidiary companies. He certainly has more important (and profitable) things to do than to create a WhatsApp group to answer YOUR questions or advice YOU on what stocks to buy!
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Fact #3 : Bursa Malaysia Does Not Use WhatsApp To Communicate
Bursa Malaysia offers a multitude of contact options by snail mail, online forms on their Bursa2U portal, email or telephone.
What it does not have is a WhatsApp account. So when scammers message you to collect your “free books” using WhatsApp, or ask you to join the Bursa Malaysia WhatsApp group, be warned!
The real Datuk Muhamad Umar Swift, and Bursa Malaysia, will never ask you to join a WhatsApp group for any reason, whether it’s for investment advice, stock tips, or to buy and sell stocks, etc.
Fact #4 : One Victim Lost RM480K To Investment Scam!
In November 2022, a 60 year-old housewife from Port Dickson fell for a similar “free book” scam, and lost almost RM480,000.
After being offered the free book on Facebook, she was asked to join a WhatsApp group called Family Discussion, where she was asked to convinced to “invest”.
The WhatsApp group administrator instructed her to download an application called Forza, and open a savings account. She was then asked to deposit money into certain bank accounts, and upload the slips using that Forza app as proof.
The lady withdrew her savings and borrowed from her children and friends to invest RM476,100. However, when she wanted to withdraw the interest paid by the company, her account was blocked. The group administrator told her that she would need to deposit an additional RM427,200 to withdraw the interest.
That was when the lady realised she had been scammed, and lodged a police report.
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