iMoney Malaysia Intelligent Money Sdn Bhd Review: Is iMoney Malaysia Intelligent Money scam or legit
Overview iMoney Malaysia Intelligent Money Sdn Bhd
iMoney Malaysia has done wonders to the financial comparison platform for Malaysia, giving lots of information about loans, credit cards, insurance, and investment options to his fellow Malaysians. However, it confused the minds of the people at some point with another name, an imitation of the actual iMoney website: Intelligent Money Sdn Bhd, providing brokerage and investment services.
SC Warned iMoney Malaysia Intelligent Money
The Securities Commission Malaysia (SC) has issued the warning against Intelligent Money Sdn Bhd for being an unlicensed body that falsely presents itself as a regulated financial service provider. The above warning is vital for investors as an investment with unauthorized firms can result in financial loss, fraud, and legal risk. SC also recommends its investors to always see a company’s regulatory status before entering into any investment with that company.
Questionable Regulatory License
Intelligent Money Sdn Bhd has been flagged due to questionable claims about its licensing. It allegedly offers brokerage services. However, there is no verifiable proof that it holds a valid license from SC or other financial authorities. Investors should always be careful with the companies that claim to be regulated without any support documents.
High Potential Risk
Investing with an unregulated broker like Intelligent Money Sdn Bhd is highly risky, as this puts investors at high risk for fraud, loss of funds, and no protection under law. Investors are warned against suspicious companies and encouraged to deal only with brokers recognized by regulatory bodies.
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