Investment Scams in Malaysia: Telegram Tops Scammers’ List

In the first 11 months of 2024, Malaysia recorded 5,685 investment scams, with Telegram emerging as the most commonly used platform for fraudulent activities. The Bukit Aman Commercial Crime Investigation Department revealed alarming statistics, shedding light on the growing threat of online scams.

Department Director Datuk Seri Nanni reported that Telegram accounted for 1,832 cases of investment fraud, surpassing other platforms such as Facebook (1,436 cases), WhatsApp (1,378 cases), and Instagram (145 cases). An additional 417 cases involved other platforms, while 477 incidents occurred through face-to-face communication.

Speaking at a press conference, Nanni highlighted that up to 15 November 2024, the police received 30,724 reports of commercial crimes, with total losses amounting to RM2.774 billion. Among these, 13,721 cases—or 45%—have been brought to court.

The press conference also addressed the prevalence of e-commerce fraud. Police received 6,909 reports of such cases during the same period, resulting in losses totalling RM62.2 million. Facebook led as the most frequently used platform for e-commerce fraud, with 3,457 cases, followed by WhatsApp (1,168 cases), TikTok (800 cases), and Telegram (771 cases).

In addition to investment and e-commerce scams, illegal money lending remains a concern. Despite a rising trend over the past three years, police efforts have led to a decline in such cases in 2024.

From January to November 2024, authorities recorded 981 cases of illegal money lending, compared to 1,162 cases in 2023, 989 cases in 2022, and 977 cases in 2021. To combat the issue, the police launched targeted operations, resulting in the arrest of 4,737 individuals between 2021 and November 2024.