Wed Sep 18 02:01:00 UTC 2024: ## SEC Warns of Investment Scams at Event Booths

**Bangkok, Thailand** – The Securities and Exchange Commission (SEC) has issued a warning to investors regarding unlicensed operators promoting investment services, including securities, derivatives, and digital assets, at various events. These operators, often operating from exhibition booths, are not subject to SEC oversight and pose a significant risk of fraud.

“Unlicensed operators may be pitching scams or fraudulent offers,” said Anek Yooyuen, deputy secretary-general and spokesman of the SEC. “We are actively monitoring events and exhibitions for booths offering investment advice or soliciting services.”

The SEC has declared that any such activities by unlicensed operators or involving unapproved investment products will be deemed illegal and met with swift action. The regulator will request event organizers to shut down these booths and pursue legal action, potentially leading to imprisonment and fines. Collaboration with other authorities is also planned for instances where other laws are violated.

The SEC has urged event organizers to be cautious when allowing unlicensed operators to set up booths, as this can facilitate illegal activities.

The SEC’s recent efforts to combat online investment fraud have yielded positive results. The regulator has shut down over 1,800 fraudulent online accounts since November 2023. In 2024, the SEC’s Investment Fraud Hotline has received 497 complaints, with 350 cases deemed investment fraud. Platform providers have blocked 91.4% of reported fraudulent channels after receiving notifications from the SEC.

Despite these measures, the SEC emphasizes the importance of public vigilance. Mr. Anek advised investors to carefully examine any investment solicitations, particularly those received through social media. He stressed the need to verify information with the company or relevant personnel in the capital market directly and avoid providing personal information or transferring money to individual accounts.

Victims of investment scams are urged to report the incidents to the SEC website (www.sec.or.th/scamalert), email (scamalert@sec.or.th), or call 1207 and press 22.

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