Authoritiesare stepping up enforcement against online investment scams after a rise in complaints involving fake trading platforms and impersonation of licensed financial institutions. The Home Ministry said coordinated operations with police and the Malaysian Communications and Multimedia Commission (MCMC) are underway to identify syndicates targeting local investors.
Crackdown on online investment scams
Officials said many victims were lured through social media advertisements promising guaranteed returns, before being asked to transfer funds to mule accounts. Several platforms were found to be operating without approval from Bank Negara Malaysia. The government urged the public to verify investment offers through official regulatory channels and warned that tougher penalties would be imposed on individuals involved in facilitating scam operations.
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