SEC hotline receives over 1,500 calls on suspected investment scams in September

The Securities and Exchange Commission (SEC) announced that its hotline for reporting investment scams received over 1,500 calls in September — double the number recorded in August.

According to the SEC, most of the calls sought advice from people unsure whether investment invitations they had received were genuine or scams.

The increase in calls indicates that the public remains vulnerable to online fraud, prompting more people to seek guidance to avoid falling victim. The SEC added that many callers had already suffered losses from such scams.

The SEC said it has coordinated with online platforms to block scammers’ accounts. It also plans to use information gathered from callers, along with feedback provided to the public, to further enhance the hotline’s effectiveness and strengthen its role as an active complaint centre for protecting investors.

Anek Yuyuen, deputy secretary-general and spokesman of the SEC, said most of the reported scams occurred on social media platforms. Victims were lured into investing in stocks, funds, and digital assets such as cryptocurrencies.

He added that scammers often cited authorities such as the SEC, the Stock Exchange of Thailand (SET), and listed companies to make their schemes appear legitimate. Some victims were misled into believing their investments would be processed through the SET’s trading system.

Anek urged the public to verify investment offers by contacting the SEC hotline before making any financial decisions. He also recommended using the SEC Check First app to verify opportunities related to capital markets, stocks, and digital assets.