KUALA LUMPUR, Feb 9 (Bernama) -- Bank Negara Malaysia has commenced investigations into Semangat Teknologi Gagah Sdn Bhd (STG) and its related companies on suspicion of conducting illegal deposit taking.

The raids took place on Feb 4 in Kuala Lumpur and Selangor following complaints received from members of the public, the central bank said in a statement today.

The company is suspected of conducting illegal deposit taking in breach of sub-section 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA) and sub-section 4(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).

Members of the public are reminded to be cautious of deposit taking and investment schemes offered through various channels such as the internet, phone calls, or seminars conducted by individuals or companies not licensed, approved or authorised by the relevant authorities, said Bank Negara.

Members of the public may refer to the list of licensed institutions authorised to accept deposits, available on Bank Negara's website, (www.bnm.gov.my).

For further enquiries, members of the public can also contact Bank Negara at, BNMTELELINK (Customer Service Call Centre) at 1-300-88-5465 or email bnmtelelink@bnm.gov.my.