KUALA LUMPUR, Aug 7 — Police have detected a syndicate that conducts fraudulent investment activities misusing the logo of investment and wealth management firm Phillip Capital through the Telegram application.
“We believe the use of the company’s logo is aimed at deceiving victims and giving the impression that the scheme involved is run by the company in question. Ramli said so far, one victim has lodged a report, involving a loss of RM10,370, adding that investigations are being conducted under Section 420 of the Penal Code.He also advised the public to conduct detailed checks before participating in investment schemes, including verifying them from official sources such as Bank Negara Malaysia’s Alert List and the Securities Commission .