KUALA LUMPUR: A whopping RM1.6 billion was lost to online scams in 19 months from last year up to July 2024.

Federal Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf said the losses involved 40,385 online scams.

These scams include 15,782 cases of fraudulent online purchases (RM243.5 million), 8,655 non-existent investments (RM875.4 million) and 6,384 non-existent loans (RM64.2 million).

The cases also involve 4,438 phone scams (RM224.2 million), 3,676 job offer scams (RM108.4 million), 1,362 love scams (RM61.8 million) and 88 business email compromise cases (RM70.3 million).

Ramli urged the public to work with the police to combat commercial crime.

"Do not easily trust advertisements on social media platforms such as Facebook, WhatsApp, WeChat and others promoting investment opportunities," he told Harian Metro.

"Our investigations indicate that investment schemes promoted on social media are fraudulent."

https://www.nst.com.my/news/crime-courts/2024/08/1097191/over-rm16bil-lost-online-scams-19-months