Stock market warns people to be wary of investment scams
Date 02 May 2022 time 07:44
The SEC, together with FETCO, warned the public to be wary of investment scams. Advise to check the name of the authorized person. at the SEC Check First application
The Securities and Exchange Commission (SEC) and the Federation of Thai Capital Market Organizations (FETCO) are concerned that people may be tricked into investing through social media channels. by impersonating the name, image or logo of the SEC and relevant agencies in the capital market or claiming to be an employee of an asset management company or a licensed financial institution Please be careful and don’t be fooled by advertising soliciting investments. by checking the list of people who operate the business or licensed securities at the SEC Check First application
At present, there are many crooks claiming to be securities companies (asset.), asset management companies (asset.) or financial institutions that are licensed to deceive people to invest. and causing widespread damage to the people including impersonating names, pictures or logos of the SEC and relevant agencies in the capital market Such as the Association of Thai Securities Companies (ASCO), Association of Investment Management Companies (AIMC) and the Stock Exchange of Thailand (SET) in propaganda and persuading people to invest in securities and assets through various channels such as telephone calls, short messages, social media. and online channels
The SEC and FETCO therefore warn the public to be wary of fraudulent investments. and should carefully examine the information before making an investment decision. A fraudulent investment solicitation model may have the following characteristics:
• Offer an attractive and inflated rate of return on investment. The source of the return is unclear.
• Provide returns from persuading others to invest.
• Guaranteed return on investment Claims that there is no risk
• Impersonate names, images, logos of famous and credible entities, companies or individuals in propaganda.
• Persuade to invest in securities and financial assets without verifiable reference sources.
• Deposit or transfer investments to a personal account of a natural person. No investments were reported or notified.
Ms Ruenwadee Suwanmongkol, secretary-general of the SEC, said that over the past year, the SEC has received a lot of clues about propaganda and persuading people to invest in fraudulent ways. Therefore, the public is cautioned to be wary of soliciting investments from those who are not authorized by regulators. because it will not be protected by law and there is a risk of being deceived causing the loss of all investments. In this regard, the investment advisor of the securities business operator dealing with investors must have a registration number approved by the SEC. can check and has a duty to clearly explain information about investment products shows the characteristics of the product The risks involved and the source of reliable sources used for such advice Investors can check the list of investment advisors and authorized service providers through the SEC’s channels and to prevent people from being deceived. The SEC and FETCO will discuss the guidelines. Protect investors in further online transactions.
Mr. Paiboon Nalinthrangkun, Chairman of the Board of FETCO, said that today there are many criminals claiming to be licensed service providers. FETCO, as an organization representing entrepreneurs and people involved in the development of the Thai capital market. I would like to remind people to be careful and protect themselves from such scammers. By carefully checking the information before making any investment decisions, for example, checking to ensure the identity of the company or the person who recruits is permitted by law. by requesting to check the license from that person or check the list from the SEC because the advisor to invest in securities or financial assets must be licensed under the law Check the details of the securities or assets offered for investment. There should be a reliable source of information. accessible There is no advertising exaggerated rate of return or a guaranteed return claiming that there is no risk. The return should have a clear, referenced source, and the information is disclosed so that it can be inspected on a regular basis.
You can check the list of people who recommend investment. business operator or securities authorized by the SEC at the SEC Check First application and the SEC website www.sec.or.th under SEC Check First (https://market.sec .or.th/LicenseCheck/Search) If you have any questions or have clues about suspicious behavior, please report to the “SEC Public Service Center” at 1207 or SEC Live Chat at the SEC website. . For further in-depth investigation In the event that an act is found to be an offense under the Securities and Exchange Act, the offender may be prosecuted according to the law. which is punishable by both imprisonment and fine And if it is considered an act that may be against another law, the SEC has a process to coordinate with relevant agencies to take further action.
You can also contact the Association of Thai Securities Companies (ASCO) at 0-2226-0909 or the Association of Investment Management Companies (AIMC) at 0-2264-0900.
In addition, they can also ask for information or make complaints with relevant agencies such as
Office of the Consumer Protection Board (OCPB) Tel. 1166
Department of Special Investigation (DSI) Tel. 1202
Department of Business Development Tel. 1570
Technology Crime Investigation Police Headquarters (Bor. SorTor.) Call 1441
informal financial reporting center Fiscal Policy Office Tel. 1359
Financial Consumer Protection Center (FAC), Bank of Thailand, Tel. 1213
