KUALA LUMPUR: Telegram is the most-used application by investment scam syndicates, says Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf.
“The main choice is Telegram, with 1,455 cases or 34.6% of the total investment scam cases occurring on the platform. This is followed by Facebook with 1,035 cases and WhatsApp with 958 cases,” he said when contacted on Wednesday (Sept 25).
Comm Ramli then added that some of the other mediums used by syndicates were Instagram with 105 cases, Website (93), dating sites (26), Line (12), WeChat (11) and phone calls (31).
He said that in total 4,205 investment scams have been recorded between Jan and Sept 22 of this year, leading to RM526,970mil in losses.
In terms of losses, investment scams through WhatsApp recorded the highest number with RM175.5mil, followed by Facebook (RM159.5mil) and Telegram (RM32mil).
Comm Ramli advised the public to be more careful and wary when using such applications given the abundance of content which is unverified.
“For investments, it is better to refer to the authorities in charge such as Bank Negara Malaysia and the Securities Commission,” he said.
Comm Ramli then added that investment scam syndicates are most likely to use bank accounts registered under companies or businesses.
“They choose this as such accounts can receive more frequent fund transactions involving bigger amounts without being red-flagged by financial institutions compared to individual accounts.
“Between Jan 1 and Sept 22, a total of 1,369 bank accounts belonging to 487 mule companies have been used by investment scam syndicates,” he said.
Comm Ramli then added that investigations showed those appointed as the directors of the mule companies were usually those looking for jobs and experiencing financial difficulties.
“Such individuals usually search for jobs on social media before they are contacted by agents assigned to search for mule account holders,” he said.
Comm Ramli added that these people will then be instructed to open several accounts under a newly formed company and hand over the accounts to the agent.
“They are also promised to be given monthly commissions or other forms of payment,” he said.
Comm Ramli advised those looking for jobs not to be involved with such activities.
“Unknown individuals suddenly offering jobs as a company director are just too good to be true. Always be careful and skeptical about such job offers as they might be tickets to become a mule account holder, which is a serious crime.
“Stay vigilant and think carefully before accepting any job offer,” he said.
