by Suhasini Gunasagaran | Jul 19, 2020

KUALA LUMPUR: Bukit Aman has received 672 reports on fake investment syndicates, with losses estimated to be over RM90mil.

The statistics, from Jan 1 to July 15, was shared by Commercial Crime Investigation Department (CCID) acting director Comm Datuk Saiful Azly Kamaruddin in a press conference at the department headquarters here on Thursday (July 16).

“From that number, 467 reports involved online investments, with losses estimated at RM53,367,732.

“Lately, the trend has been that these syndicates use social media to attract victims. They offer several packages promising returns as high as 13 times the investment, ” he said.

After snaring their victims, the syndicates would bombard them with various fees as conditions they would have to fulfil before they could reap their “profits”.

“There are also cases where the URL links are valid investments but the syndicates will take advantage of their victims by not funnelling their investments to their intended destinations, ” he said.

Police have identified 13 online investment platforms that are known to have been used to cheat victims.

Among those listed by Bukit Aman are IQ Option, Global Investment and Wei Jian Zhi.

“The public is advised to not easily be fooled by testimonials, statements and fake promises. Do not invest if the online trader instructs you to put money into an individual or company account, ” he said.

People should also verify their information with legitimate sources such as Bank Negara’s alert list or by contacting the police.

Source : The Star

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