Wed Sep 18 02:01:00 UTC 2024: ## SEC Warns of Unlicensed Operators Setting Up Investment Booths at Events

**Bangkok, Thailand** – The Securities and Exchange Commission (SEC) has issued a stern warning to investors, urging them to be wary of unlicensed operators promoting investment products at events and exhibitions. These operators, often found at booths offering financial advice and services, operate outside the SEC’s regulatory purview and pose a high risk of fraud and scams.

According to SEC spokesperson Anek Yooyuen, the regulator is actively monitoring events for such activities. Unlicensed operators selling unauthorized investment products will face immediate action, including booth closure and legal proceedings, potentially leading to fines and imprisonment.

The SEC is also collaborating with other authorities to pursue legal action against operators who violate other relevant laws. The regulator is urging event organizers to be vigilant and to refuse booths to unlicensed operators.

The SEC’s warning comes as a result of a surge in online investment fraud. The SEC has shut down over 1,800 fraudulent online accounts this year, and the SEC’s Investment Fraud Hotline has received 497 complaints, 350 of which were deemed investment fraud. The hotline, launched in November 2023, has been instrumental in blocking 91.4% of reported fraudulent channels.

The SEC is reminding investors to be cautious of investment solicitations on social media, especially those involving personal accounts. Investors should thoroughly verify the legitimacy of any investment offer and contact the relevant capital market authority directly for clarification.

The SEC urges anyone who has been deceived by fraudulent investment schemes to report the incident through their website, email, or hotline.

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