Kota bharu: Greed and the desire to make quick profits have been identified as among the main reasons many individuals in Kelantan fall victim to investment scams, resulting in losses amounting to RM5.18 million in the first five months of this year.

According to BERNAMA News Agency, Kelantan police chief Datuk Mohd Yusoff Mamat stated that investment scams recorded the highest financial losses among all commercial crime categories, with some victims losing more than RM1 million each. He noted that victims often continued depositing money into fraudulent investment schemes after being enticed by promises of lucrative returns, only to realize they had been deceived after suffering significant financial losses.

Mohd Yusoff explained that scam syndicates typically attract victims by promising unrealistic returns that legitimate financial institutions would not be able to offer. He urged the public to think rationally before committing to any investment, particularly those promising exceptionally high returns within a short period.

Meanwhile, commercial crime in Kelantan has shown a worrying upward trend, with 1,219 investigation papers opened between January and May this year compared to 602 cases during the corresponding period last year. This increase involved an additional 617 cases, while total losses rose from RM14.11 million to RM20.84 million, an increase of RM6.73 million.

According to Mohd Yusoff, e-commerce scams recorded the highest number of cases at 401, compared with 141 during the same period last year. However, online investment scams remained the category with the highest losses at RM5.18 million, up from RM3.87 million previously. He mentioned that the police have instructed the Commercial Crime Investigation Department (CCID) to intensify public awareness campaigns through radio, television, and social media platforms to educate the public on scam syndicates' modus operandi and ways to avoid becoming victims.