GEORGE TOWN: The public has been warned to be extra vigilant and not to fall prey to illegal financial schemes which have been rife lately, as the country battles the Covid-19 pandemic.

Transport Minister Datuk Seri Dr Wee Ka Siong said such cases involved various types of get-rich-quick schemes, investments in precious metals and commodities, and illegal currency trading.

“To avoid falling victim to investment scams, it is very important to gain knowledge about the concept of proper financial management and educate ourselves on how to manage cash flow and at the same time invest wisely and prudently.

“Through the various types of financial management tools and legitimate investment products in the market, we can achieve financial freedom faster,“ he said in his opening speech at the “My Money and Me” online financial education seminar organised by the Penang branch of the Malaysian Financial Planning Council today.

A total of 680 participants attended the programme to learn gain knowledge on financial management and avoid becoming victims of fraudulent schemes.

The speakers were from, among others, Bank Negara Malaysia, the Securities Commission Malaysia, Credit Counselling and Debt Management Agency, Federation of Investment Managers Malaysia, and Inland Revenue Department. — Bernama