230 TikTok Scams Cost Malaysians Over RM15 Million Since 2021, Says CCID Director

According to Seri Ramli Mohamed Yoosuf, Director of the Bukit Aman Commercial Crime Investigation Department (CCID) in Malaysia, a total of 230 investment scams have been advertised via TikTok since 2021, resulting in losses exceeding RM15 million.

Ramli reported that the number of investment scams on TikTok has increased steadily since 2021. “In 2021, 13 cases were recorded followed by 27 cases in 2022, 59 cases in 2023 and 131 cases between January and October this year,” he disclosed.

In terms of financial losses, RM0.41 million was lost in 2021, RM1.28 million in 2022, RM7.25 million last year, and RM6.39 million so far this year.

The victims of 2024’s scams include 66 women and 65 men. Ramli revealed, “Those aged 31-40 years old are the highest number of victims (23%), followed by aged 21-30 (21.4%), aged 41-50 (17.5%), aged 51-60 (15.9%), aged 61-70 (15.1%), and aged 11-20 (7.1%).”

He added, "Most of the victims consisted of those working in the private sector, representing 54% of the total victims while among other victims were retirees (9.9%), civil servants (7.6%) and students (4.6%)." 

Ramli emphasized that the police are sharing the data to raise public awareness about the use of social media platforms by investment scam syndicates.

CCID Director’s Advice

Ramli urged the public to be vigilant against investment schemes offered on social media platforms. Be a smart social media user and take precautionary measures to avoid falling victim. One way to do this is by checking with the Securities Commission (SC) to verify whether an investment scheme is legitimate.