58-Year-Old Insurance Agent Fell Victim to a Multi-Million Ringgit Fraud
A 58-year-old insurance agent in Malaysia has lost RM1.58 million to an investment scam. Between 19 December 2024 and 20 February 2025, she made 27 transactions, sending funds to six different bank accounts under various companies.
Malaysia’s EPF Declares Highest Dividend Since 2017 Amid Market Resilience
Malaysia’s Employees Provident Fund (EPF) has announced a 6.3 per cent dividend for both its conventional and syariah savings accounts for 2024. This marks the fund’s highest payout since 2017 and the first time both accounts have recorded the same rate. The unexpected increase is expected to encourage more voluntary contributions from members.
In Bursa Malaysia: Local Institutions Sustain Buying Streak & New Subsector Classification
Bursa Malaysia maintains market momentum with sustained institutional buying while introducing a renewable energy subsector to attract sustainability-focused investors and support Malaysia's green transition.
Ringgit Remains Flat Amid Holidays, US Debt Concerns Loom
The Malaysian ringgit began the week steady against the US dollar, showing little movement due to a lack of market catalysts during the holiday-shortened trading week.
Ringgit Retreats Against US Dollar Amid Profit-Taking
The Malaysian ringgit saw a slight retreat against the US dollar on Thursday, pulling back from its recent rally as investors cashed in profits following its substantial appreciation.
Ringgit Surges Past RM4.14 Against USD
The Malaysian ringgit continued its upward trajectory against the US dollar at the market's opening today, breaking past the RM4.14 level for the first time since November 2021.
From Instagram Friend to Financial Nightmare: Malaysian Woman Lost RM190,000 in a Week
A 50-year-old Malaysian woman has become the latest victim of an online currency investment scam, suffering a loss of RM190,000 (approximately $40,000).
Malaysia's Battle Against RM3.4 Billion Electricity Theft in Cryptocurrency Mining
Malaysia has faced significant financial losses, primarily due to electricity theft driven by cryptocurrency mining activities, amounting to approximately RM3.4 billion ($723 million).
Gigamax Cryptocurrency Investment Scam Exposed in Malaysia
The Malaysian Humanitarian Organization (MHO) has unveiled a scam involving the well-known investment platform, Gigamax. The platform claimed to offer a 1% daily profit, deceiving many individuals who relied on their savings. To date, 99 individuals have reported being defrauded, with losses amounting to a staggering 4.86 million Malaysian Ringgit (MYR), approximately 1.03 million USD.
When Love Turns to Fraud: RM150,000 Lost in Online Scam
A 51-year-old single mother from Malaysia, employed as a civil servant, recently became the victim of an intricate love scam, resulting in a financial loss of RM148,200 (approximately 31,500 USD).
Malaysia's Police Press Bank Negara for Gold Investment Scheme Rules
In response to the growing exploitation of soaring gold prices by fraudulent entities, Bank Negara Malaysia faces mounting pressure to establish comprehensive regulations for gold investment schemes. Datuk Seri Ramli Mohamed Yoosuf, director of the federal police Commercial Crime Investigation Department (CCID), underscored the urgency of the situation, noting the proliferation of deceptive gold investment schemes.
Ringgit Weakens Amidst Battling Global Economic Turmoil
On Tuesday, the ringgit dipped to a low of 4.7900 against the US dollar, driven by apprehensive investors seeking refuge in the safe haven currency amidst escalating geopolitical tensions. Over the past week, the local currency has depreciated by nearly 0.9% against the US dollar, marking its weakest performance since January 1998. In conjunction with this decline, Bank Negara Malaysia has reiterated its commitment to bolstering the ringgit.
Is This the Beacon of Light for MYR?
The article suggests positive prospects for Malaysia's Ringgit (MYR) based on projections by BMI, indicating potential strengthening trends in the latter half of 2024 and early 2025. Factors such as anticipated policy relaxation, stability in yield differentials, and favourable external conditions contribute to this outlook. However, whether this constitutes "good news" for the MYR ultimately depends on various factors, including economic performance, policy decisions, and external developments, which may impact currency movements.
WTI hovers around $77.00 with a positive momentum, focus shifts to US PCE, Oil Rig Count
West Texas Intermediate (WTI) oil price pauses its two-day winning streak but is anticipated to conclude the week on a positive note, trading near $77.00 per barrel during the Asian session on Friday.
FCA Warns an Unauthorized Broker Named 'Sapphire Markets'
On December 7, the UK's Financial Conduct Authority (FCA) regulator warned against an unauthorized broker called Sapphire Markets, reminding the public to be aware of financial safety.
Five Websites Warned! BCSC Alerts About TopMarkets
On January 4, 2024, the British Columbia Securities Commission (BCSC) warned an unlicensed broker called TopMarkets.
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In forex trading, understanding and managing risk is paramount to success. One powerful tool that traders have is the "stop loss order."
Empowering Traders Through Transparency: Explore, Compare, and Conquer with WikiFX!
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