KUALA LUMPUR (June 23): Citi Malaysia confirmed today the financial institution is not involved or linked in any way to Citibank International Investment Plan Worldwide, which has been identified by the Securities Commission Malaysia (SC) as a Citibank Bhd clone operating a fraudulent scheme.
In a statement to theedgemarkets.com today, Citi Malaysia reiterated that it had in place stringent controls on risk management and cybersecurity aligned to the best global standards to protect the interest of its employees, customers and clients.
"Citi Malaysia is committed to providing a secure banking environment, and is constantly updating its security technology to protect client privacy and confidentiality.
"All customers and clients are advised to be extra alert and cautious against any fraud, scam or phishing activities, particularly online or on social media,” Citi Malaysia said.
Yesterday, the SC said in a statement to theedgemarkets.com that Citibank International Investment Plan Worldwide "is an illegal investment scheme that misuses the name of a legitimate financial entity, in this case Citibank”.
In a statement on the SC’s website, the regulator said that Citibank International Investment Plan Worldwide is an entity “carrying on unlicensed capital market activities”.