The Labuan Financial Services Authority (Labuan FSA) issued a statement responding to media reports of an alleged investment scam involving a licensed entity under its regulatory purview, reiterating a zero-tolerance approach to breaches of law and regulatory requirements. Labuan FSA stated that licensed entities must maintain high standards of professional conduct and comply with applicable rules and regulations, and that it will take decisive enforcement action where unlawful activity is found. Potential measures cited include administrative penalties, business restrictions, licence revocation, and striking off from the registry, alongside collaboration with other law enforcement agencies on criminal prosecution. The authority also advised the public to conduct due diligence, seek professional financial advice, and verify that financial service providers are properly licensed and authorised.

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