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SEC calls for collaboration to deter impersonation investment scams

Thursday 24 August 2023 | No. 150 / 2023

Bangkok, 24 August 2023 – The Securities and Exchange Commission (SEC) has called for collaboration of capital and digital asset market participants, as well as related organizations, listed companies, and agencies to monitor, detect and deter impersonation investment scams. If such actions are found, all parties are urged to issue investor warnings and inform the SEC for further publicity to prevent extensive damage to the public at large.

The SEC has found numbers of cases of online fraudulent actions involving the unauthorized use of names, logos, executive or staff images of the SEC, the capital market business operators as well as the related parties, e.g. listed companies, the Association of Thai Securities Companies (ASCO), the Association of Investment Management Companies (AIMC), and the Stock Exchange of Thailand (SET), with the intention to impersonate and claim that their investment solicitations have been approved by the SEC* or the aforementioned organizations, causing considerable harm to the public.

The SEC, being well aware that prevention of those scams needs collective efforts of all relevant parties, has called for collaboration of business operators, i.e., securities companies, investment management companies, derivatives business operators, digital token portal service providers and crowdfunding portals as well as related organizations and capital market participants, i.e., listed companies and relevant agencies to put in place a mechanism for monitoring, through various channels, the impersonation investment scams involving the unauthorized use of personal names and logos of organizations, agencies, companies or related parties. When such fraudulent schemes are found, suggestions for deterrence actions to be taken include issuing investor warnings through the organization’s web site(s) and other related channels, filing complaints with the inquiry officers, and informing the SEC for further publicity.

The SEC would like to urge the public to exercise caution when being solicited to make investments and verify information before making investment decisions. Lists of SEC-approved investment consultants, business operators and investment products can be conveniently checked via the SEC Check First application and website: www.sec.or.th/licensecheck. Further inquiries and signs of suspicious activities can be sent for fact-finding to the “SEC Help Center” via telephone hotline 1207 or SEC Live Chat on the SEC web site.

______________________

*Remark: The SEC neither certifies investment products nor guarantees returns on investment or operating performance of business operators.

NEWS

Securities and Exchange Commission

Corporate Communication and Investor Service Department

Tel. (66)2033-9502-5 E-mail: press@sec.or.th

No. 150 / 2023	Thursday 24 August 2023
SEC calls for collaboration to deter impersonation investment scams
Bangkok, 24 August 2023 – The Securities and Exchange Commission (SEC) has called for collaboration of capital and digital asset market participants, as well as related organizations, listed companies, and agencies to monitor, detect and deter impersonation investment scams. If such actions are found, all parties are urged to issue investor warnings and inform the SEC for further publicity to prevent extensive damage to the public at large.
The SEC has found numbers of cases of online fraudulent actions involving the unauthorized use of names, logos, executive or staff images of the SEC, the capital market business operators as well as the related parties, e.g. listed companies, the Association of Thai Securities Companies (ASCO), the Association of Investment Management Companies (AIMC), and the Stock Exchange of Thailand (SET), with the intention to impersonate and claim that their investment solicitations have been approved by the SEC* or the aforementioned organizations, causing considerable harm to the public. The SEC, being well aware that prevention of those scams needs collective efforts of all relevant parties, has called for collaboration of business operators, i.e., securities companies, investment management companies, derivatives business operators, digital token portal service providers and crowdfunding portals as well as related organizations and capital market participants, i.e., listed companies and relevant agencies to put in place a mechanism for monitoring, through various channels, the impersonation investment scams involving the unauthorized use of personal names and logos of organizations, agencies, companies or related parties. When such fraudulent schemes are found, suggestions for deterrence actions to be taken include issuing investor warnings through the organization’s web site(s) and other related channels, filing complaints with the inquiry officers, and informing the SEC for further publicity. The SEC would like to urge the public to exercise caution when being solicited to make investments and verify information before making investment decisions. Lists of SEC-approved investment consultants, business operators and investment products can be conveniently checked via the SEC Check First application and website: www.sec.or.th/licensecheck. Further inquiries and signs of suspicious activities can be sent for fact-finding to the “SEC Help Center” via telephone hotline 1207 or SEC Live Chat on the SEC web site. ______________________ *Remark: The SEC neither certifies investment products nor guarantees returns on investment or operating performance of business operators.

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