PETALING JAYA: With deepfake videos showing supposedly well-known Malaysians promoting fake investments, scammers are increasingly using advanced AI tools to deceive the public and gain their trust.
Former Pasir Pinji assemblyman Datuk Chan Kam took a bold step by deliberately engaging with a fake online investment scheme to warn the public about how such scams operate.
He said many scammers were now using artificial intelligence (AI) to create highly realistic fake investment videos and advertisements. These are then widely circulated on social media to trick people into handing over their money.
Chan, who was accompanied by MCA Public Services and Complaints Department head Datuk Seri Michael Chong, held a press conference at Wisma MCA on Saturday (July 5).
“In the past two months, I’ve noticed more of these fake investment ads appearing online. So last month, I decided to click on one of them to see what would happen,” he said.
“After entering my contact details, I received a call from someone speaking Mandarin. The caller told me about an investment opportunity and even helped me set up an account.”
Chan said he then transferred RM1,100 to a bank account provided by the scammer and followed the instructions as though he were a genuine investor.
“The scammer contacted me daily, sharing so-called good news about the investment and encouraging me to invest more.
“Fortunately, I knew it was a scam from the beginning, so I didn’t proceed further. But the RM1,100 I initially transferred is gone,” he said.
He explained that the money had been pooled together by himself, Chong, and several members of the Malaysia-China Friendship and Mutual Assistance Association and the Crime Prevention Foundation. Their aim was to understand how these online scams work.
Chan said he used his real name and bank account for the transaction and has kept all relevant evidence. He plans to lodge a police report soon.
“I hope that by sharing my experience, more people will be cautious and avoid falling for these scams on social media,” he added.
Meanwhile, Chong said scammers are using AI to produce deep fake videos that appear to show well-known Malaysians endorsing fake investment schemes — raking in billions from unsuspecting victims.
He added that the scammers also create deep fake videos of leaders like Anwar, MCA president Datuk Seri Dr Wee Ka Siong and other ministers. Some videos even include logos from trusted media outlets like The Star to appear as authentic news reports.
Other prominent individuals targeted in these scams include tycoon Tan Sri Robert Kuok, former Chief Justice Tun Tengku Maimun Tuan Mat and Capital A CEO Tan Sri Tony Fernandes.
“It’s ridiculous – our Prime Minister doesn’t even have an Indian accent,” Chong remarked. “And remember, there’s no such thing as easy money. How could paying a small amount give you huge returns?
“With AI now so advanced, people must be extra cautious. If something sounds too good to be true, it probably is.”
He also shared police data showing that in 2024, there were 13,956 scam cases reported, involving total losses of RM2.11bil. He added that 85% of these scams originated from platforms such as Facebook, WhatsApp and Telegram.
