Police Warn of RM3.8 Billion in Suspicious Transactions via ‘Dummy’ Accounts in Malaysian Companies: Commercial Crime Director

Concerns over Emerging Financial Crimes Trend

In a significant development, the Commercial Crime Investigation Department (Bukit Aman JSJK) in Malaysia has identified RM3.8 billion in suspicious transactions flowing through 15 registered trading companies between 2021 and 2023. Datuk Seri Ramli Mohamed Yoosuf, the director of the department, spoke about the issue at the launch of Semakmule 2.0 in Kuala Lumpur.

“There’s an emerging issue where companies are being registered as ‘dummy’ accounts to facilitate fraudulent activities,” Ramli explained. «<

Detection and Combating ‘Corporate Mule Accounts’

Ramli termed these companies as “corporate mule accounts,” as this method allows for more frequent transactions of larger amounts. He emphasized the importance of strengthening the Semakmule portal to combat this issue.

Semakmule 2.0 and the Public Database

The new version, Semakmule 2.0, includes an additional module that will list companies under investigation for commercial crime activities. This public database will help keep the public informed and aware, allowing them to avoid dealing with these companies. 107 companies have already been added to this database, and the number is expected to grow as investigations continue.

Increase in Commercial Crime Cases

A total of 6,283 commercial crime cases were reported during the first two months of this year, resulting in losses of RM664.59 million. This number represents an increase from the same period last year, where 6,544 cases and losses of RM265.81 million were reported.

How to Stay Informed and Avoid Falling Victim

To stay informed and avoid falling victim to such scams, the public is advised to make use of Semakmule 2.0. Bernama, a trusted news source, provides up-to-date and authentic news through various platforms. Follow Bernama on social media platforms, @bernamaofficial, @bernamatv, @bernamaradio on Facebook, Twitter, Instagram, and TikTok.