PETALING JAYA: The growing influence of financial influencers, or finfluencers, has raised serious concerns over consumer protection and market integrity, prompting calls for tighter regulation, stronger enforcement and greater public awareness. MFPC president Andy Ng Yen Heng said professionalism and accountability were crucial in maintaining trust in the financial system. Fraudulent or unlicensed online advice, said the MFPC, exposes consumers to significant financial risks and undermines investor protection, professional standards and overall market integrity. “We have received both formal complaints and informal feedback over inaccurate, incomplete or poorly disclosed financial content shared by influencers, particularly content targeting young or first-time investors with ‘too good to be true’ claims. “Under the Communications and Multimedia Act 1998 (CMA), particularly Sections 211 and 233, MCMC is empowered to act against false, misleading, or offensive online content,” it said.

Source: The Star January 17, 2026 11:48 UTC