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Indonesian authorities have issued a second investment fraud notice to TriumphFX.

The OJK stated in a May 21st announcement:

The Investment Alert Task Force discovered 7 businesses making investment proposals without licenses in April 2022.

Two of the organizations were discovered to be “doing FX and robot trading without a license.”

TriumphFX operates a forex bot investment plan with passive returns, hence I feel they fall within this category:

In other countries, this is the equivalent of a securities fraud warning.

Despite being Indonesia’s primary financial regulator, the OJK states that it is “not a law enforcement authority and so cannot carry out legal proceedings.”

All members of the Investment Alert Task Force from 12 Ministries/Institutions work together to combat unlawful investments.

The Investment Alert Task Force not only stops and informs the public, but also restricts websites/websites/applications and files information reports to the Police Criminal Investigation Unit.

Last year, Indonesia’s Commodity Futures Trading Regulatory Agency issued a statewide ban on TriumphFX.

According to SimilarWeb, the primary sources of traffic to TriumphFX’s website are Malaysia (79%), the United Kingdom (7%), and Singapore (3%). (16 percent ).

Last August, Singapore issued a TriumphFX securities fraud alert.

Even though Malaysian authorities have been at the core of TriumphFX advertising for years, no action has been taken.

TriumphFX is managed by con artists from Singapore, most likely having links to Malaysia.

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