KUALA LUMPUR: Most online investment schemes are fraudulent and likely to end in scams, warns Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf.

He urged the public to be wary of investment opportunities advertised on social media platforms, such as Telegram and Facebook, emphasising that these schemes were not genuine.

“I advise everyone to exercise caution before investing. None of these online schemes are legitimate. These advertisements often feature so-called ‘investment gurus’ in video clips, which ultimately lead to scams,” he said.

He highlighted that these schemes often promised easily attainable wealth, which is misleading. 

“Legitimate investments, such as those listed on the stock exchange, do exist. However, it’s unrealistic to turn RM300 into RM18,000 quickly. Some people still believe this, and I can’t understand why,”  he told reporters after attending the Probationary Police Sergeant Passing Out Parade ceremony at the Malaysian Police Training Centre (Pulapol), here, today.

Commenting on a recent investment scam involving national mixed doubles shuttler Lai Pei Jing, who lost her lifetime savings, Ramli said investigations were ongoing. 

He noted that while this case had gained significant media attention due to Pei Jing’s status, it was similar to other investment fraud cases.

An investigation was launched after police received a report from Pei Jing in Seri Kembangan, Selangor. 

“We are conducting further investigations as it involves an investment fraud syndicate,” Ramli said, adding that Pei Jing had joined an investment scheme based on online buying and selling of goods.

This article first appeared on NST.