SET initiates alliance to crack down on scams

The Stock Exchange of Thailand (SET) has formed an alliance with business organisations and related government agencies to tackle investment scams by integrating their operating systems to develop a process to stop fraudulent investment cases faster and with greater efficiency.

SET president Pakorn Peetathawatchai said investment scams are rampant on social media. Fraudsters typically impersonate well-known organisations, executives and celebrities to gain credibility, then lure the victims to invest, as a result causing damage not only to those victims but also…