Thailand's Small Investors Warned Of Forex Fraud

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Thailand's small investors warned of forex fraud

BANGKOK, Aug 6

Thailand's Ministry of Finance has warned small investors to beware of a group of persons who try to persuade them to invest in foreign exchange trading, saying the government gave a

permission for only financial institutions and institutional investors to invest overseas.

Chira Pankeeree, acting director of the ministry's Permanent Secretary's Office, said the baht had strengthened rapidly and fluctuated continuously. Consequently the government policy is to encourage investors to bring money to invest overseas.

It had eased rules to cope with the baht volatility by allowing seven institutional investors including the Government Pension Fund, securities companies, and insurance firms, to invest in overseas securities.

However, a group of swindlers have taken the opportunity to persuade people to bring their money to speculate on foreign exchange rates such as the US dollar, the pound, the euro, and the Japanese yen through the Internet and by direct contact with the group.

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MCOT Public Company Limited