Don't fall for investment schemes on social media, says CCID director

KUALA LUMPUR: Most investment schemes advertised on social media are scams and should not be believed, says Comm Datuk Seri Ramli Mohamed Yoosuf.

The Bukit Aman Commercial Crime Investigation Department (CCID) director said regardless of the platform, the schemes advertised are typically scams designed to dupe people.

"Don't believe the investment schemes being advertised on social media.

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"If it's too good to be true, it is most likely a scam," he told reporters after the graduation ceremony for police sarjan trainees at the Police Training Centre (Pulapol) here on Friday (June 7).

He was commenting on reports that two national badminton players had fallen victim to scammers.

It was reported that Malaysian mixed doubles shuttler Lai Pei Jing suffered a huge blow when she lost almost all her life savings to a scam.

Former doubles ace Tan Boon Heong also revealed that he was a victim in 2017.

Comm Ramli said police are investigating both cases.

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"We believe both of them have lodged reports.

"They were duped by investment scams. These cases were given more coverage owing to their status as famous athletes," he said.

He advised the public to be wary of investment scams, which are a form of get-rich-quick scheme.

"There is no shortcut to getting rich.

"Only invest in legitimate schemes approved by the authorities," he said.

Comm Ramli said that tactics used by such Investment scam syndicates include portraying abundant wealth to entice victims.

"We hope people will stay vigilant and be wary of such tactics," he said.