BNM warns public on illegal and suspicious financial entities and activities

Bank Negara Malaysia (BNM) has issued a consumer alert to public through its official website ( that advising members of public not to deal with any of the illegal financial service providers, reveal or disclose personal financial credentials to any of the illegal financial service providers and involve or associate with any of the illegal financial service providers. The illegal financial activities including but not limited to illegal deposit taking, illegal foreign exchange trading scheme, illegal money services business activities, improper market conduct or practices by BNM’s licensee and misuse of BNM and senior officers’ names and positions.

BNM highlighted that consumer protection under the laws administered by BNM is not applicable should the members of the public choose to deal with the illegal financial service providers and participating in the illegal financial activities will be charged under the law as abetting the operators of such illegal activities. BNM has published the list of licensed financial institutions which can be accessed at and the list of licensed money changers, remittance service providers and currency wholesalers which can be accessed at while the list of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BNM can be accessed at

BNM urged the public to alert BNM on any illegal or suspicious activities when found, through call BNMTELELINK (Bank Negara Malaysia Contact Centre) at 1-300-88-5465 or e-mail to

Prevention is one of the best ways to combat the illegal financial activities and the public can learn how to avoid being defrauded in illegal financial activities via BNM’s microsite at

by Alice Lee

Author: Terry KS

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