KUALA LUMPUR: The Securities Commission has included three new clone entities on its Investor Alert List, one of which is of Rakuten Trade, as of March 26, 2024.
The Rakuten Trade clone entity falsely uses the name and credentials of Rakuten Trade Sdn Bhd, a licensed entity by the SC for engaging in securities dealing and providing investment advice, to conduct an unlawful investment scheme.
It also falsely represents and misappropriates the commission's name and logo.
Another entity included is Warburg Pincus Club or FDI Hub, under suspicion for running an unlawful investment scheme and engaging in unauthorised securities trading.
Meanwhile, iFast Work or iFast TradingViews has been cautioned for using the name and credentials of iFAST Capital Sdn Bhd, a licensed entity approved by the SC for various financial activities, to facilitate an illegal investment scheme.