I thought Malaysian authorities had taken no action against TriumphFX.
Malaysia has been a top location for hiring since BehindMLM’s first evaluation of TriumphFX in 2017 pretty much to the day.
It turns out that the Malaysian SEC warned about TriumphFX’s securities fraud in 2020, even though the Bank of Malaysia did nothing.
The Malaysian SEC has warned that TriumphFX is
carrying conducting derivatives trading activity on the capital market without a license
In other countries, this would be the equivalent of a securities fraud notice.
TriumphFX is not authorized to sell securities anywhere. Every nation that the corporation seeks financing from is one where it is operating illegally.
At the time of writing, SimilarWeb cites Malaysia (77%) as the biggest source of the traffic to TriumphFX’s website, followed by the UK (7%) and Singapore (5 percent ).
Despite still accounting for the majority of website visitors to TriumphFX, Malaysian authorities have not acted on their warning about 2020 securities fraud.
Similar TriumphFX regulatory alerts have been issued in Singapore and Indonesia (second alert).
TriumphFX is thought to be managed by a bunch of fraudsters from Singapore with connections to Malaysia.