KUALA LUMPUR - Police are actively pursuing investigations on an investment fraud which resulted in losses of up to RM6.7 million after receiving 42 reports.
Police secretary Datuk Noorsiah Mohd Saaduddin said the commercial crime investigation department (JSJK) ran investigations and found the investment scheme to be active since late last year.
She said investors who were interested would be added into a WhatsApp group.
"The investors would then ask them to register and purchase stocks offered through a website.
"Investors were then asked to transfer funds to several company accounts for payment purposes.
"The online investment scheme was found to be no longer active since February and investors did not get to withdraw funds invested," she said through a statement on Thursday.
She said police urge any victims of the syndicate to file a police report at any nearby police station.
"Individuals are also advised to stay vigilant and do thorough research before taking part in any investment or savings scheme promising high returns.
"Further information could be gained through official sources such as Semak Mule, Bank Negara Malaysia and Security Commission's Alert List before any decision is made towards the doubtful investment scheme," he said.
He added the cases were investigated under Section 420 of the Penal Code.