According to a report by The Star Online, the BB1M vouchers are being sold for between RM190 and RM230.

The bookshops will then claim RM250 from the government for books they had purportedly sold. However, the books that the shop owners are claiming for are books which they have not been able to sell.

These books will then be sold cheaply to second-hand bookshops, resulting in the bookshop owners making profits twice from the unwanted books.

This scam also involves the use of agents who are usually college students, who get other students to participate, for which the former earns a cut.

The agents post advertisements on social media, seeking to buy vouchers from students and arranges to meet up with them so the transactions can take place.

The report stated that these scams were rampant in Kuala Lumpur, Perak and Selangor and that students from both public and private universities, were involved although it is illegal.

The BB1M initiative, which began in 2012, is aimed at helping alleviate the burden of students in Form Six and institutions of higher learning.

According to Higher Education Ministry guidelines, the vouchers are non-transferable and cannot be converted to cash or sold to third parties.