Beware Of Scam FB Pages Impersonating Public Figures And Companies
We found at least two Facebook pages impersonating CEOs offering free books about stock trading and investment to unsuspecting victims.
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Online scams have been a lucrative business for scammers and conmen out there. Despite the numerous warnings and tips for the public, some unfortunate people fall victim to these scams.
It can also be hard for people to discern whether it’s a scam as scammers are quick to adapt, exploit their targets, and make their “product” believable.
That said, old scam tactics still work and the rise of social media makes it very easy for irresponsible individuals to draw in unsuspecting targets.
A popular way to trick people is to impersonate a public figure or a company’s account and make it look realistic.
These pages are different from fan pages as they often push a product or require victims to perform an action such as messaging them on the side or downloading a file.
The first scam Facebook page
TRP came across two such scam pages on Facebook. The first Facebook page impersonated the CEO of Bursa Malaysia Datuk Muhamad Umar Swift.
In this fake account, the impersonator asked followers to message his assistant on Whatsapp to get his book about stock trading for beginners for free. It’s likely the scammer is out to lure in people who don’t know much about making investments in the stock market.
The Facebook post has also appeared as a sponsored post on the social media timeline.
In the comments, some people seemed to have fallen for the scam and expressed their interest to get their hands on the book.
TRP messaged Bursa about this scam profile and the company said they were aware of the scam.
In a statement, Bursa Malaysia warned the public not to fall for Facebook advertisements or pages that offer stock advice.
Bursa Malaysia also urged anyone who comes across these fraudulent posts to report them to Bursa2U and provide the screenshot and source link to bursa2u@bursamalaysia.com. They can also call Bursa Malaysia’s Help Centre at +603-2732 0067.
To be safe, Bursa said people can check the Securities Commission Investor Alert List at http://sc.com.my/investor-alert before investing. If they believe they have been scammed, they can contact the National Scam Response Centre hotline at 997.
The second scam Facebook page
The second page TRP came across is a Facebook page “Sunway Investment” impersonating the Sunway Group founder and chairman Tan Sri Jeffrey Cheah.
In the post dated 26 May 2023, the scammer used the same caption seen on the page impersonating Bursa Malaysia’s CEO.
The scammer asked people to message “his” assistant on WhatsApp so she could mail the books about building stock trading skills to them for free.
This post also appeared as a sponsored post on the Facebook timeline.
According to the official Sunway Group’s Facebook statement, the scam seemed to date all the way back to 2020.
Sunway Group warned the public not to fall for the investment scam posted by fictitious pages pretending to be from the company.
Sunway Group said it does not own and is not affiliated in any way with the Facebook account named “Sunway Investment.”
The scam apparently leads victims to a fake agent who would show some investment packages and testimonials before requesting personal information and investment funds.
Sunway Group emphasised that the company does not make offers to the general public to invest in funds managed by Sunway Group companies.
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