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Investment Scams in Malaysia: Telegram Tops Scammers’ List
Abstract：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.
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.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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For experienced traders, the process of selecting a new broker transcends a simple comparison of spreads and leverage. It is a meticulous due diligence exercise where the integrity of the broker's regulatory framework is paramount. Stonefort Securities, a relatively new entrant in the crowded brokerage space, presents a complex and often contradictory profile. On one hand, it boasts a modern MT5 platform and a stream of positive user testimonials. On the other hand, it is shadowed by severe regulatory warnings that question the very foundation of its operations. This in-depth review focuses on the core issue for any long-term trader: Stonefort Securities regulation and oversight. We will dissect the broker's corporate structure, scrutinize its licensing claims, and analyze what the data implies for trader protection and fund security. For traders evaluating whether Stonefort Securities is a trustworthy partner, understanding these details is not just important—it is essential.
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