FNG Exclusive… FNG has learned that a call center in Kuala Lumpur, Malaysia operated by Retail FX and CFDs brokerage Doo Group was one of several raided recently by Malaysian police, as part of a wider operation in the country targeting financial scams.

Malaysian Home Affairs Minister Datuk Seri Saifuddin Nasution Ismail was quoted yesterday in local news site Malay Mail, saying that the police have arrested a total of 11,864 individuals believed to be involved in 31,949 cases of fraud involving losses of RM1.5 billion ($355 million) throughout this year.

Other local news sources including Malaysia based Chinese language site China Press reported a police raid held earlier this week in the Bangsar South commercial district of Kuala Lumpur, in which “hundreds of men and women” were detained with at least seven police trucks taking away large numbers of people to the local police station for further investigation.

It is unclear if any of the Doo Group call center employees or contractors were among those arrested or detained by police. However a source at Doo Group told FNG that its operations “remain unaffected.”

The Doo Group call center in Malaysia services clients in China and across the Far East of D Prime (recently rebranded from Doo Prime), the Doo Group’s offshore CFDs brokerage arm. The group also operates “onshore” licensed businesses in Cyprus and the UK.

FNG received the following statement from a Doo Group spokesperson about the situation.

As part of a broader nationwide campaign against illegal call centres, Malaysian authorities recently conducted inspections at several business premises, including ours.

We would like to reassure our clients, partners, and stakeholders that our operations remain fully compliant, and we are working transparently and constructively with the authorities by providing all the information required.

Compliance, integrity, and accountability are fundamental to the way we operate. We are confident that our strong governance standards will ensure this matter is clarified and resolved swiftly.

About D Prime

D Prime is a unit of the Doo Group, and operates out of several locations in the Far East and MENA region as an offshore Retail FX/CFDs broker (domiciled in Mauritius and Vanuatu) targeting mainly Chinese and APAC region traders. The Doo Group also operates several licensed subsidiaries including an FCA licensed entity in the UK called Doo Clearing Limited and CySEC licensed Doo Financial Cyprus Limited covering the EU. Doo Group is controlled by Chinese national Junjie Chen.