51 police reports filed over RM11.9mil Forex investment scam


KUALA LUMPUR: A total of 51 police reports have been lodged regarding Forex investment scams resulting in RM11.9mil in losses, says Comm Datuk Seri Ramli Mohamed Yoosuf.

The Bukit Aman Commercial Crime Investigation Department (CCID) director stated that the syndicate is masterminded by several locals and Indonesians.

"They used a company based in Indonesia as a broker to handle financial transactions. We also identified two other companies involved in promoting the investment scheme face-to-face to the investors," he said in a statement on Wednesday (Dec 11).

Comm Ramli reported that a local man and an Indonesian man were detained on Sept 9 and Oct 25, respectively.

"We are investigating under Section 420 of the Penal Code for cheating," he added.

He urged victims of the syndicate to come forward and lodge police reports at the nearest police station.

"We advise the public to always be vigilant and conduct due diligence before joining any investment scheme, especially those that promise returns that are too high or too good to be true.

Get pertinent information on any investment scheme from official sources such as the SemakMule portal, Bank Negara Malaysia, or the Securities Commission before deciding to join any investment scheme," he said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Victim found in suitcase believed to be a foreigner
Yong backs Kitingan's call for national parties not to contest in Sabah
Fuel prices Dec 12-18: Unchanged across the board
Monsoon floods: Firefighters among 82,000 various agency personnel members deployed for possible second wave, says Nga
Negri Sembilan students to receive RM1,500 one-off incentive for STEM programmes
Online Safety Bill passes after bloc vote
Malaysia, Saudi Arabia further solidify relations with signing of two MOUs
Deeper STEM partnership forged between Malaysia and Russia, says Anwar
Malaysia, Saudi to hold annual bilateral coordination meetings, says Tok Mat
Singapore implementing QR code immigration clearance system for bus travellers starting Dec 16

Others Also Read