KUALA LUMPUR: This year, the majority of the 4,355 investment scam cases in Malaysia have been linked to schemes advertised on social media sites and chat applications, says Comm Datuk Seri Ramli Mohamed Yoosuf.
"The top three platforms for investment scams are Telegram with 1,506 cases, Facebook with 1,068 cases, and WhatsApp with 1,000 cases," he said when contacted on Friday . He noted that other mediums used for scams included websites, Instagram, Google, phone calls, WeChat, and in-person interactions."Victims suffered losses amounting to RM548.1mil during this period," he said.
"These are just ruses by scammers to lure victims into big investments with promises of huge returns," he said."An IPO must be registered with the Securities Commission ," he emphasized.He expressed disappointment that despite numerous news reports and prevention messages, people still fall victim to investment scams.