Is Books Kinokuniya giving away free books on stock investing, to celebrate gaining 3 million fans?!
Find out what’s going on, and warn your family and friends!
Watch Out For The Kinokuniya Free Books Scam!
Scammers are running Facebook advertisements that claim Books Kinokuniya is giving away free books on stock investing, to celebrate its 50th anniversary!
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Kinokuniya Free Books Scam : What You Need To Know!
This Kinokuniya free book scam is being promoted heavily on Facebook in May 2023, so please alert your family and friends!
Fact #1 : Kenanga Reported These Pages / Ads As Fake
Books Kinokuniya is aware of these fake advertisements being run by scam Facebook pages, posting this scam alert on May 17, 2023:
Fact #2 : Books Kinokuniya Is A Business, Not A Charity
Please do NOT be naive. Books Kinokuniya is an investment bank – a business, not a charity. It is not going to give away books just because it has many fans!
Even if it achieved some kind of milestone, it would make sense for Kinokuniya to offer discounts. After all, it’s a corporation whose purpose is to make money, not a charity to give you free books!
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Fact #3 : Kinokuniya Does Not Use WhatsApp To Communicate
As mentioned in their warning above, Kinokuniya has a Facebook page, an Instagram page, a corporate website as well as a website. What it does not have is a WhatsApp account!
So when scammers message you to collect your “free books” by messaging a WhatsApp number, be warned!
Fact #4 : Kinokuniya Will Not Ask You To Join WhatsApp Groups
Kinokuniya has stated that it will never ask anyone to join a WhatsApp group for any reason, whether it’s for free books.
Kinokuniya is also a bookstore, not a stock broker or an investment firm. It will never offer you free investment advice, stock tips, or help you buy and sell stocks, etc.
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Fact #5 : One Victim Lost RM480K To A Free Book 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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