Worrying statistics: Comm Ramli says that up to August, more than RM914mil was lost by victims in various scams nationwide.
PETALING JAYA: All investment schemes offered on social media platforms are scams, Bukit Aman has warned as police data shows that close to RM1bil was lost to scams nationwide by the third quarter of this year.
Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf said he is disheartened that there are still victims being duped by scam syndicates despite repeated warnings.
“It is even more unfortunate that the majority of investment scam victims are often late in lodging police reports after they were duped by the scammers.
“It is a common occurrence where victims do not remember correctly where exactly they saw the advertisements on such investment offers on social media,” he said when contacted yesterday.
Comm Ramli said the CCID is continuously cooperating with the Malaysian Communication and Multimedia Commission (MCMC) in taking action under Section 263(2) of the Communication and Multimedia Act 1998.
“It is in connection with blocking investment advertisements on social media, often used by scammers to look for victims,” he said.
In a recent interview with The Star, Comm Ramli also revealed that one in three scam cases involved senior citizens.
He disclosed that up till August, more than RM914mil was lost by victims in various scams nationwide.
At least 28% of the sum was siphoned from senior citizens aged about 61.
He said poor knowledge about investing in foreign stock markets also led to thousands falling victim to investment scam syndicates.
He said the scammers behind the non-existent schemes are fraudulently using the names of well-known institutional stockbrokers and pose as investment gurus to convince unsuspecting investors to part with their funds with promises of multiplying it by several times within a short period of time.
Comm Ramli said the relevant authorities should educate the public through media statements on the process of making offshore investments, which is far more complex than what the syndicates often portray.
“Perhaps, the public should be made aware of the process of investing in foreign stocks. It cannot be so simple as it is made out to appear by the scammers.
“This must be explained by the relevant authorities,” said Comm Ramli.
To date, the CCID has identified over 200,000 mule bank accounts with hundreds of them being registered to businesses which scam syndicates use to receive and move its ill-gotten gains.
