DSI alerted people to online investment platforms for high return by impersonating public company registered in foreign country

DSI alerted people to online investment platforms for high return by impersonating public company registered in foreign country 

       The DSI received information about a group of individuals persuading people to apply for investment’s package by claiming to use the money for investment in business platform that collects members database (Big Data) linking the market and people and the network of online businessmen, and claiming to be a company registered in a foreign country for making investment in foreign companies in Europe, but has not been authorized by government agencies in Thailand. Investors were persuaded to invest in several packages, starting from a package of 99 euros (4,000 baht) to a package of 2,499 euros (120,000 baht) under its binary marketing plan that investors must invite 4 persons to join the investment within 14 days in order to receive bonus and return worth millions of baht from the company. The online social media, namely Facebook, Line is used for persuasion of the public to be members of the group established by the said company before using the team leader to convince people for its investment business.

       The DSI wishes to inform the public that digital asset trading either as the Digital Asset Exchange Center, the Digital Asset Broker, or the Digital Asset Dealer must have the licence of digital asset business solely Issued by the Securities and Exchange Commission (SEC). Moreover, the operation of the said business is considered to be an offence under the Emergency Decree on Loans of Money Amounting to Public Cheating and Fraud, B.E. 2527 (1984). Introducing and persuading people to invest in securities and futures contracts by using Facebook as a channel for advertising and enticing people is considered as an offence of operating securities business without permission under the Securities and Exchange Act, B.E. 2535 (1992), shall be liable to imprisonment from 2 to 5 years and a fine from two hundred thousand to five hundred thousand baht with a fine not exceeding ten thousand baht per day. Nevertheless, the DSI will inspect the particulars of the said business as claimed by the company whether it is regarded as an offence under the Emergency Decree on Loans of Money Amounting to Public Cheating and Fraud, B.E. 2527 (1984) or not.

       The DSI wishes to alert people that before making investment in the said business, the public should study the possibility of a business and inspect evidence of investment indicating the use of money by the said company for actual investment as claimed. Moreover, Ponzi schemes often come in types of businesses that employ interesting marketing strategies and advertising for short-term investment with the high rate of return by using money obtained from new members to pay yield to old members for presenting their business operations as real. However, after having huge money from raising public funds, the business is closed and the swindler escapes with money of the victims. This Ponzi scheme causes rapidly widespread and adverse damage. Anyone who has information or clues about the said offences, or any questions, can contact the DSI via www.dsi.go.th or DSI hotline call 1202 (free call nationwide), and the DSI will keep the information of that informant confidentially.

Dated March 23, 2021