Bukit Aman’s commercial crime investigation department director Ramli Yoosuf said 30 elderly people were scammed in 2022, resulting in losses of RM1,019,414.

The number of victims rose to 66 in 2023, with total losses amounting to RM6,590,684, and escalated to 152 last year, totalling RM22,177,300.

“This year alone, as of Feb 2, a total of 65 cases have been reported, with losses reaching RM3,063,239,” he told a press conference here today.

He urged senior citizens to be vigilant, especially against online part-time job offers requiring upfront payments.

Ramli said 981 companies and businesses are under investigation for suspected fraudulent investment activities.

“The existing procedures need to be refined to ensure the company registered is a genuine company for the purpose of business,” he said.

He also said investigations are ongoing into multiple investment scams, with financial losses of up to RM47 million.

The cases are being investigated under Section 420 of the Penal Code, which carries a maximum 10-year jail term, whipping, and a fine upon conviction.