SEREMBAN: The Companies Commission of Malaysia (SSM) received 591 complaints about companies offering fraudulent investments and the Interest Schemes Act 2016 for the period from 2022 until last July.
According to SSM chairman Ahmad Sabki Yusof, the high statistics indicate a serious problem in the country that requires an integrated approach.
“In 2022, we recorded a total of 28 investment frauds and three cases of Interest Scheme Act 2016 fraud, which sharply increased to 320 cases last year involving investment fraud, while the Interest Schemes Act 2016 accounted for 46 cases.”
“As of last July, 190 cases of investment fraud were recorded and four cases of fraud in Interest Scheme 2016,” he told Bernama yesterday.
He said in addition to fraud investment, the commission also received complaints about welfare fund donation schemes.
Ahmad Sabki added that 123,570 businesses were registered under the Free Business Registration Scheme (SPPP) since it was introduced in 2021, and from the total, 57,953 involved students in tertiary education, and the remaining number involved entrepreneurs from the B40 group.
“Through this scheme, they will be given a fee exemption of up to RM70 when registering as part of our efforts to encourage people to venture into the field of business and entrepreneurship,” he said.
