RM5bil milked by local and foreign conmen since 2013

  • Nation
  • Wednesday, 01 Nov 2017

AN estimated RM5bil in losses were reported to the authorities by those who were duped through various scams, said the Home Ministry.

Deputy Minister Datuk Nur Jazlan Mohamed said locals and foreigners have fallen victim to syndicates, either through direct contact or via online.

Among these frauds were e-commerce, love scams or African scams, Macau scams, online gambling and investment scams.

Nur Jazlan said investment scams were more on “get rich quick” schemes which promised high returns from small investments.

He said from 2013 up to Oct 11 this year, 2,590 police reports have been made involving 1,734,960 victims.

“The loss is RM4,922,606,500,” said Nur Jazlan in replying to Tan Sri Muhammad Leo Michael Toyad Abdullah (BN-Mukah).

Nur Jazlan said the police were committed to curbing such crimes and among the efforts taken were increasing enforcement to detect, arrest and charge the culprits.

“Action will also be taken against those who lend their bank accounts to these criminals, making it easier for them to commit such fraud,” he said.

He added that laws such as the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act and Prevention of Crime Act could be used against offenders.

Nur Jazlan said such scams could not be resolved as long as people were not careful.

“People must avoid investing in these schemes, thinking they get good returns in the first few years.

“Police reports are only lodged after these investors stop receiving payments,” he said, urging the people to conduct proper checks and research before committing themselves.

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