A source told Sinar Harian that the investment scam syndicate allegedly created accounts with these five banks to illegally transfer money abroad.
"Apart from these five banks, MACC is investigating seven dummy companies owned by the scam syndicate in Kuala Lumpur and Penang," the source said. He said MACC believed the scam syndicate was not only carrying out scam operations in Malaysia but also Indonesia, the Philippines, Singapore, Thailand, Hong Kong and the United Kingdom.
On February 22, MACC uncovered the syndicate's plans during its raid operations of three professional call centres, a number of company premises and residential homes around Kuala Lumpur and Penang.Syndicate members would scam victims from all around the world through social media and phone calls.