The Thailand Capital Market Development Fund (CMDF), in collaboration with capital market sector partners, industry groups, and government agencies, has launched the campaign with the tagline "Always Check to Prevent Investment Scams." The campaign, one of several significant initiatives launched as part of the "Collaboration in the Fight Against Investment Fraud" project, aims to promote public awareness and avoid investment scams. The campaign uses a variety of communication platforms to emphasize the significance of client vigilance against this illegal behavior, by not being duped into investing with scammers and staying on top of all their gimmicks by double-checking facts beforehand.
Dr. Prasarn Trairatvorakul, Chairman of Thailand Capital Market Development Fund (CMDF) and Chairman of the Stock Exchange of Thailand (SET), said "Investment scams on social media are becoming increasingly complicated and sophisticated. According to data from the Technology Crime Suppression Division, investment frauds, notably through online investing, are among the top five online crimes with losses totaling more than 11.5 billion baht. With the CMDF's aim to promote and expand the efficiency of the Thai capital market, we collaborated with other stakeholders on the SET's "Collaboration in the Fight Against Investment Fraud" project. This project aims to increase public awareness in order to prevent investment scams. With this, we begin the multi-channel awareness campaign "Always Check to Prevent Investment Scams" to ensure adequate awareness, proper dealing with legitimate information and organizations, and proper participation in the capital market."
Dr. Pakorn Peetathawatchai, President of the Stock Exchange of Thailand, as an initiator of the "Collaboration in the Fight Against Investment Fraud" project, said that "Investment fraud can take numerous forms, including referencing an organization's identity, using fictitious identities, and impersonating many company officials, including many famous industry experts, in order to gain trust and trick individuals into investing. Many people were harmed as a result of all of this. Our partners have consistently warned the public and investors of such investment scams through collaboration under the "Collaboration in the Fight Against Investment Fraud" project. We expanded the effort today by launching the " Always Check to Prevent Investment Scams" campaign to inform the public that they must ensure that they are investing in a legitimate entity whenever someone urges them to invest. This campaign aims to raise large-scale public knowledge and vigilance against investment scams. We believe that this campaign would encourage Thai people to question and double-check every fact before investing."
Under the "Always Check to Prevent Investment Scams" campaign, CMDF and partners hope to raise public awareness and vigilance about investment scams through a variety of information channels, such as a mini-comedy series, "Teacher Ms.Pensri catches investment fraud," or a special seminar at campaign's launching event, "Know Every Trick to Avoid Being Misled Into Investing" by well-known television celebrity Nanake Kathsepsawad Palaka and Dr. Wit Sittivaekin. An exhibition and educational activities were also held during the event at Central Court, first floor, CentralWorld, to raise awareness of investment fraud.
Anyone with such investment scam queries can utilize the "SEC Check First" application or go on to the Securities and Exchange Commission's (SEC) website to verify correct information first. You can also contact the companies in which you are interested directly.
The CMDF and all partners hope that the "Always Check to Prevent Investment Scams" campaign, which is part of the "Collaboration in the Fight Against Investment Fraud" project, will make the general public more wary of investment fraud and scammers. At the same time, the campaign demonstrates how, with proper information, you can invest without being easily deceived by scammers. More campaigns will be launched on a regular basis to discourage investment fraud and encourage Thais to be more vigilant about the issue.
Source: Ogilvy