A TOTAL of 9,296 individuals were reported to have fallen victim to non-existent investment scams between January and November last year, suffering losses amounting to more than RM1.37 billion.
In a statement posted on Facebook, the Bukit Aman Commercial Crime Investigation Department said individuals aged between 41 and 50 recorded the highest number of victims, with 2,088 cases reported.
“This was followed by those aged between 51 and 60, involving 1,988 victims. Total losses amounted to RM1,373,305,426.77,” it said.
According to the department, syndicates behind non-existent investment schemes typically lure victims with promises of lucrative returns, when in reality the schemes are designed solely to deceive victims into handing over money without any genuine investment activity.
“Among the tactics frequently used are promises of high returns within a short period, claims of low or no risk, pressure on victims to make immediate decisions, as well as the use of company names that are unregistered or unlicensed.
“The syndicates are also known to exploit the lack of clear information regarding the investments being offered, in addition to using influential individuals or social media influencers to convince the public,” it said.
In light of the rising number of cases, the public has been urged to remain vigilant and to conduct thorough background checks on companies or individuals involved before committing any funds, in order to avoid becoming victims of investment fraud. - January 4, 2025
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