Investment scam syndicates are increasingly turning to Telegram as their primary platform of choice, according to Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf. He revealed that the platform was used in 1,455 cases, accounting for 34.6% of total investment scam cases recorded this year.
Following Telegram, Facebook and WhatsApp were also frequently used, with 1,035 and 958 cases respectively. Other platforms utilised by these syndicates include Instagram, websites, dating sites, Line, WeChat, and phone calls, though these were used less frequently.
Comm Ramli revealed that from January to 22 September 2024, a total of 4,205 investment scams were recorded, leading to RM526.97 million in losses. While Telegram was the most frequently used platform with losses estimated at RM32 million, WhatsApp scams caused the highest losses at RM175.5 million, followed by Facebook at RM159.5 million. He urged the public to be cautious when using these platforms, as many investment schemes remain unverified.
In addition to online platforms, syndicates often exploit company-registered bank accounts to facilitate transactions, as they can process larger sums without raising suspicion. Comm Ramli revealed that this year 1,369 bank accounts from 487 mule companies were involved in scams. The directors of these companies are usually financially distressed individuals recruited through social media, he added.
Once hired, these individuals are instructed to open accounts under newly registered companies and transfer control to syndicates in exchange for commissions. Comm Ramli warned job seekers to be wary of offers that seem too good to be true, particularly those involving becoming a company director, as they may lead to serious criminal involvement.
On a somewhat related note, Telegram CEO Pavel Durov recently announced that the app will now share users’ IP addresses and phone numbers with authorities to curb illegal activity on its search feature. Alongside this, the platform is enhancing moderation using AI and human oversight, urging users to report illicit content. Despite these changes, Durov ensured that the platform continues to prioritise user privacy with features like disappearing messages and end-to-end encryption, maintaining that it has never shared user messages with third parties.
(Source: The Star)
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