Exclusive FNG… FNG has learned that a call center in Kuala Lumpur, Malaysia operated by the FX retail trade and CFDs Brokerage Doo Group was one of the many raids recently by the Malaysian police as part of a broader business in the country targeted.
Malaysian Interior Minister Datuk Series Saifuddin Nasution Ismail reported yesterday on local news website Malay mailsaying that the police arrested a total of 11,864 people believed to be involved in 31,949 cases of fraud about losses of 1.5 billion RM ($ 355 million) throughout this year.
Other local news sources, including the Malaysia -based Chinese Language Website Guy of China He reported a police raid earlier this week in the Bangsar South shopping area of Kuala Lumpur, where “hundreds of men and women” were held with at least seven police trucks who remove a large number of people in the local police station for further investigation.
It is not clear whether one of the Officials of the Doo Call Center or the contractors was among those arrested or detained by the police. However a source in the Doo Group told FNG that his activities “Stay unaffected. ”
The Malaysia Services Services Call Center in China and the Far East of D Prime (recently rebuilt by Doo Prime), Doo Group’s offshore brokerage ARM. The team is also exploiting businesses licensed in Cyprus and the United Kingdom.
FNG received the following statement from a DOO team representative on the situation.
In the context of a wider national campaign against illegal call centers, the Malaysian authorities have recently conducted inspections on various business facilities, including our own.
We would like to assure our customers, partners and stakeholders that our activities remain fully compatible and we are working transparently and constructively with the authorities by providing all the required information.
Compliance, integrity and accountability are fundamental to the way we work. We are confident that our strong governance standards will ensure that this issue is clarified and resolved quickly.
About D Prime
D Prime is a Doo Group Unit and operates from various locations in the area of the Far East and Mena as an offshore FX/CFDS retail broker (residence in Mauritius and Vanuatu), which aims mainly at Chinese and APAC traders. The Doo Group also has several licensed subsidiaries, including the entity licensed by the FCA in the United Kingdom called Doo Clearing Limited and Cysec licensed by DOO Financial Cyprus Limited covering the EU. The DOO Group is controlled by the Chinese National Junjie Chen.