Concern Over Victimization

KUALA LUMPUR: Comm Datuk Seri Ramli Mohamed Yoosuf, the director of Bukit Aman’s Commercial Crime Investigation Department (CCID), warned that every investment scheme circulating on social media is fraudulent. Despite the constant warnings, he expressed his frustration over the continued prevalence of these scams and the people still falling victim to them.

The Problem of Delayed and Inaccurate Reporting

“It is often too late when victims report their losses, and many of them cannot even remember where they saw the misleading investment ads on social media,” said Comm Ramli.

CCID and MCMC’s Active Role

He emphasized that the CCID is working closely with the Malaysian Communication and Multimedia Commission (MCMC) to take action against scammers by blocking their investment advertisements under Section 263(2) of the Communication and Multimedia Act 1998.

Encouraging Public Verification

In reply to requests from NGOs for stricter actions, Comm Ramli urged the public to always cross-check investment schemes using resources like the SC Investor Alert List, BNM Financial Consumer Alert List, and others.

Rise in Scam Cases

Between January and September, there were 4,355 investment scams reported, with 82% of the cases linked to social media promotions.