GEORGE TOWN – Police must brace themselves for a rise in white-collar and sophisticated crime due to economic hardship brought about by the Covid-19 pandemic.
Universiti Sains Malaysia criminologist Assoc Prof Datuk P. Sundramoorthy said it is no longer the traditional forms of armed robberies, but the subtle use of technology and social media networks that will be used to dupe people.
“The trend of white-collar crime will continue to prevail in an upward direction as many have lost their jobs and other sources of income, as well as face pay cuts and no annual bonuses.
“Criminals will take advantage of the current situation by carrying out cyberscams, fake loan schemes, online purchase scams and get-rich-quick schemes.
“Unlike other crimes, it is hard to detect, and the detection rate is low in certain categories of white-collar crimes.”
Sundaramoorthy was responding to a spate of allegations involving directors of institutions of higher learning alleged to be involved in money laundering schemes to fund their colleges, and doctors who allegedly falsified medical documents for insurers and their patients for profit.
Yesterday, 21 individuals, aged between 23 and 37, including eight Chinese nationals, were arrested over an online investment scam in a raid in Batu Ferringhi just as the scheme was about to take shape.
The scheme, dubbed the “Macau Scam”, has hoodwinked hundreds of Malaysians over the past three years, with losses amounting to millions.
Penang police chief Datuk Sahabudin Abd Manan said initial investigations found that the syndicate’s modus operandi is to offer stock investment options involving Chinese investors.
In another development, police have frozen six bank accounts of a private college in the state after investigators found illicit money in the accounts of one of the directors.
Police, the Malaysian Anti-Corruption Commission and Inland Revenue Board have also frozen 200 bank accounts of businessmen who are friends of the suspect. – The Vibes, January 26, 2021
