An offer can look professional and still come from a firm with no Malaysian licence. These five checks use free public records from Malaysia's regulators. Each takes a few minutes.
Check 1: Get the legal name in writing
App names and brand names often differ from the company's legal name. Ask for the full legal name, company registration number and any licence number in writing.
Ask for copies of the agreement and other documents too. Bank Negara Malaysia (BNM) lists missing documentation as a warning sign in schemes that promise unrealistic returns.
Type the regulators' web addresses yourself rather than using links sent by the seller.
Checks 2 and 3: The SC's two lists
Check 2 is the SC Investment Checker at sc.com.my/investment-checker. It shows whether a person or company is authorised by the Securities Commission Malaysia (SC) to offer, promote or sell capital market products in Malaysia.
You can search by name or company registration number. Results show the licence or registration status and the regulated activities it covers. Make sure the activity matches what you are being offered.
Check 3 is the SC Investor Alert List at sc.com.my/investor-alert-list. It names unauthorised entities and individuals, and many entries are websites or apps. Some entries are flagged as potential clones that may use another firm's name.
The SC advises the public not to deal with or invest through the parties on the list. It warns that people who invest through unauthorised entities will not be protected under Malaysian securities laws.
Check 4: Bank Negara Malaysia's records
BNM's Financial Consumer Alert List covers entities and schemes that may have been wrongly seen or presented as licensed or regulated by BNM. It is on BNM's website at bnm.gov.my/financial-fraud-alerts.
If the offer involves a bank, insurer or takaful operator, BNM's list of licensed financial institutions is at bnm.gov.my/malaysian-financial-sector.
BNM also lists warning signs of schemes that promise unrealistic high returns. These include unsolicited approaches, returns much higher than licensed institutions offer on deposits, and early returns paid out of newer investors' money.
Check 5: Labuan FSA, if a Labuan licence is claimed
Some firms say they are licensed in Labuan. Labuan Financial Services Authority (Labuan FSA) is a separate regulator from the SC and BNM.
Labuan FSA publishes lists of the entities it licenses on labuanfsa.gov.my. It also keeps a list of unregulated or unauthorised individuals, entities, websites and funds, and advises the public not to deal with entities it has not licensed.
Common questions
Is a firm fine if it is not on any alert list? Not necessarily. The SC, BNM and Labuan FSA each say their lists are not exhaustive, so look for a positive licence record as well.
What if the firm's name appears on a licence list but the website looks different? The SC flags some entries as potential clones. Match the legal name, registration number and website before going further.
Where can I ask about or report a suspicious offer? You can call the SC on 03-6204 8999, or BNM's BNMLINK on 1-300-88-5465.
Does SmartChecker replace these checks? No. SmartChecker shows register records and reviews for the companies it lists, but it is not part of any regulator. Always confirm on the regulator's own website.