Victim Loss of RM11.9 Million Revealed in 51 Police Reports Against Malaysian Forex Scam Syndicate

The Bukit Aman Commercial Crime Investigation Department (CCID) has revealed that 51 police reports have been filed regarding Forex investment scams, resulting in RM11.9 million in losses. Director of CCID Datuk Seri Ramli Mohamed Yoosuf revealed that the syndicate behind the scam includes several locals and Indonesians.

"They used a company based in Indonesia as a broker to handle financial transactions. We also identified two other companies involved in promoting the investment scheme face-to-face to the investors," he said.

Ramli reported the detention of a local man and an Indonesian man on September 9 and October 25, respectively. "We are investigating under Section 420 of the Penal Code for cheating," he added. He urged victims of the syndicate to come forward and file police reports at their nearest police station.

The CCID advises the public to remain vigilant and conduct thorough due diligence before joining any investment scheme, particularly those promising excessively high or unrealistic returns. The public is also urged to obtain relevant information about any investment scheme from official sources such as the CCID's SemakMule portal, Bank Negara Malaysia, or the Securities Commission (SC) before making any investment decisions.