A growing obsession with quick profits and high returns has been identified as one of the main factors driving residents in Kelantan into investment scams, with losses reaching RM5.18 million within the first five months of this year.
Kelantan police chief Datuk Mohd Yusoff Mamat said investment fraud remains the most damaging category under commercial crime, with some victims reportedly losing more than RM1 million each in a single scheme.
He said many victims continued transferring money to fraudulent investment platforms after being convinced by promises of unrealistically high returns, only to realise they had been deceived when losses had already escalated to hundreds of thousands of ringgit or more.
Mohd Yusoff stressed that scam syndicates are becoming increasingly sophisticated, using convincing tactics and false guarantees that no legitimate financial institution can realistically offer.
He urged the public to exercise caution and rational thinking before engaging in any investment opportunities, particularly those promising unusually high or guaranteed returns within a short period.
Meanwhile, Kelantan has recorded a worrying rise in commercial crime cases, with 1,219 investigation papers opened between January and May this year, compared with 602 cases during the same period last year.
This represents an increase of 617 cases, while total losses have also surged from RM14.11 million to RM20.84 million, marking an additional RM6.73 million in financial damage.
According to Mohd Yusoff, e-commerce scams accounted for the highest number of cases at 401, significantly higher than the 141 cases recorded in the corresponding period last year.
However, online investment scams continued to cause the greatest financial losses, amounting to RM5.18 million, up from RM3.87 million previously.
He said police, through the Commercial Crime Investigation Department (CCID), have stepped up awareness campaigns via radio, television and social media to educate the public on scam tactics and prevention methods, in an effort to reduce the number of victims.
