Investors should take precautionary measures to avoid scams — SC

KUALA LUMPUR: Investors should take the necessary precautionary measures to avoid falling victim to scams, said chairman of the Securities Commission Malaysia (SC) Tan Sri Ranjit Ajit Singh.

He said in the span of less than two years, it was reported that over 500,000 Malaysians had fallen victim to scams.

“Therefore, investor education plays a key role in SC’s mandate to ensure adequate investor protection.

“Our financial and investment literacy programmes are designed to create awareness and empower

individuals to make informed investment decisions,” he said at the launch of the InvestSmart Fest 2017 (ISF 2017) yesterday.

He said in conjunction with the fest, SC has taken many initiatives to increase awareness on scams, including a video highlighting the common scam tactics which were screened at 135 halls in 15 cinemas nationwide.

The three-day InvestSmart 2017, starting today at the Kuala Lumpur Convention Centre, aims to promote financial and investment literacy in enhancing investor empowerment.

Since its launch in 2014, the fest has reached out to over one million Malaysians through seminars, roadshows and engagement with community leaders nationwide.

This years’ fest, themed ‘Invest for Your Future’, would bring together 65 capital market institutions, including associations, industry players and government agencies under one roof to educate people in promoting long-term savings, investments and retirement planning. —Bernama