Home -
Industry -
Main body -

WikiFX Express

TMGM
Exness
EC markets
XM
FXTM
AVATRADE
GTCFX
FOREX.com
IC Markets Global
D prime

Police arrest 58 in Bangsar for online forex scam

WikiFX
| 2023-10-26 11:27

Abstract:In a recent operation, Brickfields district police chief ACP Amihizam Abdul Shukor reported the arrest of 24 local men, 32 local women, along with a foreign man and woman. The age range of those apprehended spans from 20 to 59 years. The raid resulted in the confiscation of 50 laptops, four mobile phones, nine computer tables, one wifi modem, and two investment banners.

image.png

On October 20, 2023, the police apprehended 58 individuals suspected of participating in an online forex investment scam at three different business premises in Bangsar.

Brickfields district police chief ACP Amihizam Abdul Shukor disclosed that among those arrested, there were 24 local men, 32 local women, as well as a foreign man and woman. Their ages ranged from 20 to 59. During the operation, law enforcement confiscated 50 laptops, four mobile phones, nine computer tables, one wifi modem, and two investment banners.

WhatsApp Image 2023-10-26 at 11.47.03_2b7503fe.jpg
WhatsApp Image 2023-10-26 at 11.47.49_930b399b.jpg

According to ACP Amihizam Abdul Shukor, their investigations revealed indications of an online forex investment scam. The syndicate utilized social media platforms to promote and offer these investments, targeting victims from various countries, including Malaysia, Vietnam, China, the Philippines, Singapore, and Europe. As part of the ongoing investigation, all suspects have been remanded until Monday, and they face charges under Sections 420, 511, and 120(B) of the Penal Code.

img_v2_6e3cce6f-3780-4ebe-932f-b4d2f54e63ag.png
BrokerForex tradingForex BrokerForex newsforex marketScam AlertFraud Alert

Read more

Brokers With Maximum Credible Regulatory Licences

Walk into any forex marketing pitch in India in 2026 and the first claim you will hear is some variation of "we are regulated by multiple international authorities". The implication is obvious — multiple regulators equals safer brokers. But after WikiFX has documented thousands of complaint cases from Indian and other South Asian traders, one inconvenient truth has become impossible to ignore: Not all regulatory licences are equal. Not even close. A broker can claim "regulated by 5 authorities" — and if those 5 authorities are all offshore-tier (MISA, Vanuatu, Seychelles, Saint Lucia, Comoros), it offers approximately the same protection as no regulation at all. Meanwhile, a single FCA or ASIC licence carries more practical investor protection than a dozen offshore registrations stacked together. This is the WikiFX 2026 ranking of forex brokers by genuine regulatory credibility — measured not by quantity of licences, but by the strength and enforcement weight of the regulators behind

Original 2026-06-01 14:27

Live from Wealth Expo Colombia 2026: WikiFX Strengthens Growing Partnerships Across LATAM

Live from Wealth Expo Colombia 2026: WikiFX Strengthens Growing Partnerships Across LATAM

Original 2026-05-31 07:00

Live from Wealth Expo Colombia 2026: WikiFX Strengthens Growing Partnerships Across LATAM

Live from Wealth Expo Colombia 2026: WikiFX Strengthens Growing Partnerships Across LATAM

Original 2026-05-31 07:00

XTB Exposure Report 2026: Mounting KYC & Fund Withdrawal Complaints

XTB, a veteran with over 15 years of experience in the competitive brokerage industry, has reportedly been facing severe user allegations concerning a tedious KYC verification process and blocked withdrawals despite numerous requests by traders globally. Traders worldwide, including those from the United States and the United Kingdom, have objected to the broker’s operational methodology in 2026. If you are one of them, this XTB review is worth reading! In this article, we have examined several user allegations to understand their concerns. Additionally, we have shared our analysis on the XTB regulation status. The holistic approach adopted by us will likely help you make an informed brokerage decision.

Original 2026-05-30 14:06

WikiFX Express

TMGM
Exness
EC markets
XM
FXTM
AVATRADE
GTCFX
FOREX.com
IC Markets Global
D prime

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
AVATRADE

AVATRADE

Regulated
Ultima

Ultima

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
AVATRADE

AVATRADE

Regulated
Ultima

Ultima

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
AVATRADE

AVATRADE

Regulated
Ultima

Ultima

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
AVATRADE

AVATRADE

Regulated
Ultima

Ultima

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated

Latest News

XTB Exposure Report 2026: Mounting KYC & Fund Withdrawal Complaints

WikiFX
2026-05-30 14:06

BONUS Review 2025: Is This Forex Broker Safe?

WikiFX
2026-06-01 13:30

How Outcome Bias Tricks Beginners into Copying the Wrong Trades

WikiFX
2026-05-30 09:30

FBS Review 2026: Complaints, Withdrawals, and Risk Signals

WikiFX
2026-05-30 10:00

Live from Wealth Expo Colombia 2026: WikiFX Strengthens Growing Partnerships Across LATAM

WikiFX
2026-05-31 07:00

Deriv Review 2025: Is This Forex Broker Safe?

WikiFX
2026-06-01 13:30

Brokers With Maximum Credible Regulatory Licences

WikiFX
2026-06-01 14:27

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

QUANTUM ARBITRAGE

QUANTUM ARBITRAGE

BaveRex Exchange

BaveRex Exchange

Elevatecore capital

Elevatecore capital

Copying Expert

Copying Expert

traderxsphere

traderxsphere

METALOREX

METALOREX

CHARTERLINE CAPITAL

CHARTERLINE CAPITAL

RevoCloudMarket

RevoCloudMarket

IC Markets

IC Markets

ColinUniverseTrade

ColinUniverseTrade