Unlicensed financial influencers face RM10 million fine
Influencers and content creators who give investment advice without a licence can be fined up to RM10 million or jailed 10 years under the Capital Markets and Services Act 2007. Lawyer Dr Mahmud Jumaat said the line between general financial education and regulated investment advice is crossed when content starts recommending specific shares or products, especially with commission or payment involved. Deputy Finance Minister Liew Chin Tong was reported as saying Malaysians lost RM2 billion to scams in 2025.