A whopping RM400mil lost to investment scams, says CCID

KUALA LUMPUR: Investment scams have cost the country dearly, with investors losing almost RM400mil over the past three years.

The Bukit Aman Commercial Crime Investigation Department (CCID) has recorded a total of 1,883 cases of investment scams from 2015 until April this year.

“The scams resulted in some RM379.1mil worth of losses nationwide. It is quite an alarming situation,” said department director Comm Datuk Acryl Sani Abdullah Sani.

Comm Acryl Sani said the trend nationwide seemed to be on the rise from 2015.

“We recorded 408 cases with RM70.1mil in losses in 2015, followed by 1,151 cases (RM210.3mil in losses) last year. As of April this year, we have already recorded 324 cases, and RM98.7mil in losses,” he said.

Selangor topped the list of states with the most number of cases and investment lost to scams, Comm Acryl Sani added.

“In 2015, Selangor recorded 160 cases with RM16.9mil in losses. The number increased to 296 cases with RM98.3mil in losses last year (2016).

“As of April this year, the state still topped the list with 98 cases (RM17.7mil in losses),” he said.

Comm Acryl Sani added that Kuala Lumpur and Penang had the second and third highest number of cases this year with 44 and 42 cases respectively.

He advised the public to be more vigilant and wary of such “too good to be true” schemes or investments.

“It is common sense to be suspicious when someone offers investment packages with such high returns in a short period of time.

In the latest case involving Penang-based money game firm JJPTR, Comm Acryl Sani said the only police report against the company so far was made in Bukit Gambir, Johor.

“The person who lodged the report claimed he knew about the company on Facebook and communicated with a woman through a messaging application.

“He subsequently met the woman in Bukit Gambir to discuss investment opportunities,” he said.

On April 25, the victim saw a report in the media that the firm’s investment was prohibited and it might also be involved in money laundering activities, added Comm Acryl Sani.

“We have already started investigating this matter,” he said.

It is learnt the report lodged by the victim was over a loss of RM2,100.

In the first three months this year, the CCID received 237 reports related to investment fraud resulting in RM90.4mil worth of losses.