KUALA LUMPUR, July 18 — Rakuten Trade Sdn Bhd have lodged reports on individuals and companies who have misused its name, falsely claiming to represent Rakuten Trade in various online investment scams.

In a statement today, the digital equities trading platform operator advised the public not to entertain such claims, adding that Rakuten Trade has no affiliation with the unauthorised parties.

"We have made reports on those individuals and companies with the Royal Malaysia Police and the Malaysian Communications and Multimedia Commission (MCMC), and placed notices on our website and social media channels,” it said.

The statement came following media reports in the last 36 hours on online platform scams, allegedly involving the company.

Rakuten Trade added that it holds a Restricted Capital Markets Services Licence issued by the Securities Commission Malaysia, allowing it to conduct equities trading activities and provide investment advice as a licensed broker.

As the country’s first and only fully digital equities trading platform, it said that all trades are directly executed by its clients using the official Rakuten Trade website, www.rakutentrade.my or via the Japanese trading app iSpeed.my.

On Thursday, the Bukit Aman Commercial Crimes Investigation Department announced that it had crippled an online investment scam syndicate with the arrests of 10 individuals that had preyed upon Malaysians who were confined to their homes during the movement control order.

The police has identified 13 online investments as scams, including IQ Option, Olymp Trade, i-Rakyat Trade, Global Investment, Wei Jian Zhi, AA Anthony, Global Trader, People Global Network, Wine Exchange China, GWFX Global and Private Investment Trade Dubai.

For further information, the public can contact Rakuten Trade by calling 1800-88-6011 or email customerservice@rakutentrade.my. — Bernama