KUALA LUMPUR: A total of 3,545 impure gold items were seized from a business premises at the Kuchai Lama Business Centre by enforcement officers from the Domestic Trade and Cost of Living Ministry recently.
According to the ministry, six enforcement officers from its Enforcement Division carried out the operation after the premises was suspected of selling gold products that did not meet purity standards via social media platforms.
“Test results using X-ray Fluorescence equipment on the gold coins purchased found that the actual gold content was much lower than the stamped purity of AU 999.9, with an average reading of around 77%,” it said.
Investigations revealed that the premises served as a supplier to a retailer marketing the same gold products online.
The items on display at the premises matched those advertised on social media, the statement added, Bernama reported.
Tests carried out on the seized items revealed that their gold content varied between 80% and 98% for each piece weighing 0.01g.
Several equipment and documents were also seized to assist further investigations.
The ministry said the business operators were suspected of committing an offence under Section 5 of the Trade Descriptions Act for making false trade descriptions regarding the purity standards of precious metal goods.
Individuals convicted under this provision can be fined up to RM250,000 or imprisonment for a maximum of three years or both, while companies could be subjected a maximum RM500,000 fine.
The ministry said it would intensify enforcement operations to curb misleading and deceptive business practices, especially involving the sale of precious metal products.
Those with information or complains regarding fraudulent trade activities can contact the ministry via WhatsApp at 019-848 8000, its portal at http://eaduan.kpdn.gov.my, 1-800-886-800 or the Ez ADU application.
