RM3.8bil in scam proceeds moved overseas, say cops

 

Bukit Aman’s commercial crime investigation department director Ramli Yoosuf said corporate dummy accounts pose a greater financial threat because masked transactions can reach billions of ringgit. (Bernama pic)

PETALING JAYA: Bukit Aman’s commercial crime investigation department (CCID) has detected RM3.8 billion in transfers filtered to 43 countries through 15 registered trading companies in Malaysia, which it suspects to be the result of fraud, says its director Ramli Yoosuf.

He said between 2021 and 2023, CCID had identified a trend of corporate registration and subsequently dummy bank accounts being opened, Bernama reported.

Ramli said such tactics were used because they allowed financial transactions to be carried out more frequently and involved larger amounts (compared with personal accounts).

“In addition to individual dummy accounts, there are now also corporate dummy accounts that pose a greater financial threat because masked transactions can reach billions of ringgit.

“We saw the need to strengthen the Semakmule portal by adding another module listing companies suspected of commercial crimes. Thus, Semakmule 2.0 was born,” he told reporters after launching the new version of the portal here today.

He said this function enables the public to identify organisations involved in commercial crimes and subsequently prevent them from making transactions.

“A total of 107 companies have been listed in the Semakmule 2.0 database.

“This number will continue to grow over time in line with ongoing investigations and new cases received every day.

“We hope the public will use this portal to avoid falling victim to fraud,” he said. - FMT