The SEC (Securities and Exchange Commission) of Thailand (SEC) is coordinating with Google to block investment scam apps within 7 minutes to 48 hours.
The Securities and Exchange Commission (SEC) is coordinating efforts to block fraudulent investment applications that impersonate securities companies, protecting investors and minimizing losses quickly within 7 minutes to 48 hours. The SEC emphasizes its "3CS" strategy, integrating public and private sectors, after discovering fraudsters using social media and impersonating celebrities to build credibility.
27 February 2569 – The Securities and Exchange Commission (SEC) Authorities are continuing to investigate and warn the public about cases of impersonating securities companies or brokers to deceive people into investing through applications. The SEC is cooperating with Google to block the application and reiterates the importance of caution when investing. If unsure, please call the SEC hotline at 1207, press 22, or check the list of suspicious applications through the Investor Alert system.
Investment scams are becoming more sophisticated. Scammers often use social media, online advertising, or text messages to entice people to invest, impersonating famous people, brokerage firms, or reputable organizations to gain trust before tricking them into investing. Methods of deception include transferring money into accounts, downloading investment applications, or investing through websites.
Following a recent tip-off about impersonators posing as securities firms or brokers to solicit investments in suspicious applications that may constitute investment fraud, the SEC has investigated, published a list of these applications on its Investor Alert system, and publicized warnings about the incidents through its Facebook page.
Furthermore, the SEC (Securities and Exchange Commission) has collaborated with Google, the provider of application download platforms. Google has already blocked and removed these fraudulent investment applications from its platform in order to reduce accessibility for scammers and minimize potential damage to the public as quickly as possible.
Mrs. Pornanong Busaratrakul, Secretary-General of the SEC The SEC (Securities and Exchange Commission of Thailand) stated, “The SEC recognizes the importance of addressing the increasingly severe problem of investment fraud, which causes growing damage to the public and results in the highest value of losses compared to the overall computer-based fraud in the country. Therefore, the SEC is committed to enhancing its proactive efforts through the SEC Investment Fraud Hotline, providing a channel for advice to the public and investors. This is coupled with integrated cooperation between the public and private sectors to block the channels used by fraudsters to exploit victims, thereby limiting the investment fraud cycle and reducing potential damage to the public quickly. We can coordinate and block such scams within 7 minutes to 48 hours.”
This approach aligns with the SEC's 3CS mission: Consultation (providing advice and receiving reports), Communication (communicating warnings with partners and establishing a central information hub), and Collaboration (coordinating with relevant agencies) to block fraudulent investment schemes and minimize potential damage to the public.
The SEC (Securities and Exchange Commission of Thailand) emphasizes the need for the public to exercise increased caution when investing, especially when encountering solicitations through unfamiliar social media or applications. Investors should verify whether the solicitor or business is licensed and regulated by the SEC. If an offer promises unusually high returns or pressure to transfer funds, it should raise suspicions of a scam.
If you are unsure whether an investment scam is legitimate, you can check the list of entities that are not regulated by the SEC through Investor Alert on the SEC website. Alternatively, you can search for the list of capital market service providers regulated by the SEC and find authorized products (securities/digital assets) to aid in investment decision-making through SEC Check First, available on both the SEC application and website.
Additionally, you can call the investment scam hotline at 1207, press 22, to receive advice directly from an officer.
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