Labuan, 17 January 2025: Labuan FSA acknowledges several news publications reported earlier this week, concerning an alleged investment scam involving a licensed entity under Labuan FSA’s regulatory purview. Labuan FSA takes this matter very seriously and is fully committed to preserving the integrity and trust of the financial system of the Labuan International Business and Financial Centre.

Labuan FSA wishes to emphasise our zero tolerance for any breaches of the law. Entities licensed under our regulatory purview must uphold the highest standards of professional conduct and strictly comply with all enforced rules and regulations. We continuously ensure its players and service providers to always remain in compliance with the laws and guidelines.

Any actions that undermine these standards will not be tolerated and we will take decisive enforcement actions against individuals or entities found to be engaged in unlawful activities that contravened our laws. Such actions may include administrative penalties, restriction of business, revocation of licence and striking off from registry, while Labuan FSA is also collaborating with other law enforcement agencies on criminal prosecution.

In general, Labuan FSA strongly advise the public to conduct thorough due diligence and seek professional financial advice before participating in any financial investment. It is essential to verify the credentials of financial service providers to ensure they are properly licensed and authorised by the respective Authorities including Labuan FSA