KUALA LUMPUR: Bank Negara Malaysia had on July 21 raided the premises of Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd in the Klang Valley for suspected illegal deposit taking activities.

The central bank said it had started investigations into the two companies for breaching subsection 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA).

“The raids on Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd were conducted today at their premises in Klang Valley following information received from members of the public,” it said.

Bank Negara reminded the public to be cautious of deposit taking schemes and investment schemes offered through various channels such as the internet, phone calls, or seminars conducted by individuals or companies that are not licensed or approved by the relevant authorities.

Members of the public may refer to the list of licensed institutions authorised to accept deposits which is available on Bank Negara Malaysia’s website (www.bnm.gov.my).