All Social Media Investments Are Scams, Says Bukit Aman CCID

Disappointment Over Continued Victimization

KUALA LUMPUR: Comm Datuk Seri Ramli Mohamed Yoosuf, the head of Bukit Aman’s Commercial Crime Investigation Department (CCID), has issued a stark warning: all investment schemes found on social media are fraudulent. He expressed his concern about the continued exploitation of victims by scam networks, despite multiple warnings from authorities.

Challenges in Reporting Fraud

“The unfortunate reality is that many victims report their losses only after significant delays, by which time they often cannot recall the exact social media platform where they saw these offers,” said Comm Ramli.

Collaboration with MCMC

The CCID is working closely with the Malaysian Communication and Multimedia Commission (MCMC) to combat these scams by blocking fraudulent investment ads under Section 263(2) of the Communication and Multimedia Act 1998.

Public Warning to Verify Investment Schemes

In response to recent calls from NGOs for stricter measures, Comm Ramli advised the public to double-check the legitimacy of investment schemes through trusted sites, including SC Investor Alert List, SC Investment Checker, and BNM Financial Consumer Alert List.

Increase in Reported Cases

From January to September, there were 4,355 reported investment scam cases, with 82% related to social media promotions.