PETALING JAYA: Bank Negara has added 14 new companies and schemes to its financial consumer alert list.
These are Ahmad Zulkhairi Associates PLT, Ethtrade Limited, Ethtrade Malaysia, Kilauan Padu Services Sdn Bhd, O2 Only One, OG1 Asean, Only One International Sdn Bhd, Proficiency Management and Services, Smart Trade Entrepreneur, Smart Trade Resources Sdn Bhd, TF International Group, TF International Group (MY), TF International W1212 KL Team and ZEMC Sdn Bhd.
The list, updated Thursday afternoon, now has 316 companies under it for suspicion of not adhering to relevant laws and regulations administered by the central bank.
Under the Financial Services Act 2013, individuals or businesses involved in illegal financial activities can be fined up to RM50mil and jailed for 10 years.
Among the financial schemes that have been red-flagged by the central bank this year were JJ Global Network, JJ Poor To Rich, JJPTR, MBI International Sdn Bhd and Mface International Sdn Bhd.