Title: Collaboration between Commercial Crimes Department and Securities Commission to Combat Investment Scams in Malaysia Worth RM1.34bil

Background

Between 2019 and 2023, the Commercial Crimes Department (CCD) in Malaysia recorded a total of 14,488 cases related to cheating in investments, resulting in losses worth a staggering RM1.34 billion. In light of this rising trend, the CCD has joined forces with the Malaysian Securities Commission (SC) to combat investment scams and financial fraud.

Discussion and Partnership

On Thursday, 22nd February 2023, a discussion was held at the Bukit Aman headquarters between the following key figures:

Comm Datuk Seri Ramli Mohamed Yoosuf, Director of the Commercial Crimes Department (CCD)
Budiman Lutfi Mohamed, Enforcement Director of the Securities Commission (SC)

During the discussion, both parties explored ways to create a mechanism to help the public confirm the legitimacy of any potential investment opportunities.

Legitimacy Check for Investments

Comm Ramli shared that the Securities Commission has already developed an ‘investment checker’ platform, which can be accessed at https://www.sc.com.my/investment-checker. The platform aims to help the public verify investment schemes and avoid potential scams.

Collaborative Efforts and Commitment

The CCD and SC expressed their dedicated efforts in addressing financial fraud and agreed to share the following resources:

Information
Expertise
Investigation
Operational resources

This collaboration is expected to not only discourage investment scams but also empower investors to make informed decisions and protect their financial interests. By joining forces, both organizations aim to create a safer financial environment for Malaysians.