Which financial firms have been targeted by cloning scams?

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Financial Firms Targeted by Cloning Scams

The Financial Planning Association of Malaysia (FPAM) has identified nine of its member firms whose names have been used by scammers to promote illegal investment schemes. These fraudulent operations aim to confuse the public by creating bogus companies that mimic the identities of legitimate financial planning businesses.
Cloning of Wealth Vantage Advisory Sdn Bhd and Genexus Advisory Sdn Bhd

Wealth Vantage Advisory Sdn Bhd and Genexus Advisory Sdn Bhd are among the nine FPAM member firms whose names have been cloned by scammers. These fraudulent schemes often promise high returns and use fake testimonials to build confidence among potential victims.
Excellentte Consultancy Sdn Bhd and Alpine Advisory Sdn Bhd Targeted

Excellentte Consultancy Sdn Bhd and Alpine Advisory Sdn Bhd have also had their names misused by scam operations. The scammers typically add potential victims to social media chat groups, pretending to represent these established financial planning firms to lure them into dubious investments.
UOB Kay Hian Securities (M) Sdn Bhd and CC Advisory Sdn Bhd Impersonated

Scammers have impersonated UOB Kay Hian Securities (M) Sdn Bhd and CC Advisory Sdn Bhd by cloning their identities. These scams often involve displaying bogus investor testimonials and fabricated proof of transfer receipts to convince individuals of fictitious profits.
Harveston Wealth Management Sdn Bhd, iFast Capital Sdn Bhd, and Kenanga Investors Bhd Affected

The cloning scams have also affected Harveston Wealth Management Sdn Bhd, iFast Capital Sdn Bhd, and Kenanga Investors Bhd. FPAM advises the public to verify the legitimacy of financial planning firms by checking the Securities Commission Malaysia's registry and directly contacting the firms before making any payments or investments.

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Which financial firms have been targeted by cloning scams?

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