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Over 14,000 investment fraud cases reported, RM1.34 bil lost: Bukit Aman | Scoop
Following discussions between the Commercial Crimes Department and the Securities Commission, an agreement was reached to establish a mechanism allowing the public to verify the authenticity of investment schemes. – Alif Omar/Scoop pic, February 23, 2024
News

Over 14,000 investment fraud cases reported, RM1.34 bil lost: Bukit Aman

Commercial Crimes Dept to collaborate with Malaysian Securities Commission to address growing threat of investment scams

Bernama
Updated
8:48 AM MYT

 

KUALA LUMPUR – The Commercial Crimes Department (CCD) has recorded 14,488 cheating cases involving investments over a five-year period, from 2019 to 2023, resulting in losses amounting to RM1.34 billion.

Bukit Aman CCD director Datuk Seri Ramli Mohamed Yoosuf said that following the increase in the number of cases recorded, the CCD has formed a collaboration with the Malaysian Securities Commission (SC) to combat such crimes that continue to increase.

Ramli said a discussion was held between the CCD and the SC yesterday at the CCD office in Bukit Aman, together with SC enforcement director Budiman Lutfi Mohamed and his delegation.

According to him, an understanding was reached regarding the need to create a mechanism that would allow the public to verify the authenticity of any investment.

“For that, the SC has already developed a platform called ‘investment checker’ that can be accessed via the investment checker website to assist the public in evaluating investment schemes offered.

“Both agencies agreed to maintain their commitment to combatting fraud by sharing information, expertise, investigations, and operations,” he said in a statement last night.

Ramli said CCD believes the partnership can help promote effective investment schemes and curb investment fraud in the country. – February 23, 2024

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