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.

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.

Broker Forex trading Forex Broker Forex news forex market Scam Alert Fraud Alert

Your Backtesting Results Mean Nothing If You Ignore This One Live Trading Reality

Backtesting remains one of the primary skills forex traders learn. By implementing a trading strategy based on historical currency pair price information, traders can view their past performance. The strategy leading to consistent profits during backtesting can raise confidence and lay a structured approach to the forex market. However, the path is not as simple as it may sound. Several traders tend to meet a harsh reality when transitioning to live trading. The strategy that seemed almost flawless on historical charts suddenly fails to deliver the results it did before. The sudden difference may not necessarily be because of a poor strategy. Rather, it indicates limitations concerning backtesting and several factors that play their part in a live market where conditions change frequently. It is thus important to understand these differences so that you can set realistic expectations and work on to achieve consistent success.

Original 2026-07-07 21:22

Seacrest Markets Review 2026: Are Claims of Account Terminations and Fund Scams True? Let’s Find Out

While searching for user reviews for Seacrest Markets, a South Africa-based brokerage entity, we came across some repeated complaint patterns about the alleged account disablement and the funds that were trapped in it. At the same time, users have complained that the broker unnecessarily extended the fund withdrawal review process to deny them their hard-earned funds. While they may be user allegations and not established facts yet, the emergence of many complaints against the brokerage firm calls for an in-depth investigation in this Seacrest Markets review.

Original 2026-07-07 19:24

Can AI Really Improve Forex Trading? The Benefits, Risks and Hidden Limitations

We are living in the age of artificial intelligence, where everything including financial matters such as forex are rapidly influenced by this phenomenon. AI-powered tools are here to identify numerous trading opportunities and analyze thousands of data, all in seconds, becoming the preferred option for both retail and institutional traders. Regardless of its immense benefits, traders often question - Whether the AI can truly transform their forex trading experience or is it just like another technology offering scope for unrealistic expectations? While the AI can ensure faster trading and more informed decisions, it is never a sure shot way to profits. As a trader, you need to understand both the strengths and limitations of AI when it comes to generating real wealth.

Original 2026-07-06 21:18

DeltaFX Review 2026: My MT5 Account Was Locked During Trade. Did the Trader Lose Everything?

Among the many DeltaFX complaints reviewed, the MetaTrader 5 (MT5) account lock during live trading was arguably the most prominent one. Secondly, a Turkish trader complained about the sudden closure of trades within five to six minutes. This raises suspicion over the trading manipulation at the broker. Looking further, we came across a complaint about the blockage of the trading account immediately after a deposit. In this DeltaFX review, we have examined several user allegations in 2026.

Original 2026-07-06 20:19