Investment Scams Exploit Social Media and FOMO to Target Malaysians

Investment scam syndicates in Malaysia are no longer relying on phone calls and fake websites alone. According to Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Rusdi Mohd Isa, as reported by the New Straits Times, scammers now use Facebook, Instagram, TikTok and other social media platforms to identify and target potential victims.

Between January and June 2026, Malaysians lost a staggering RM413.81 million across 4,279 investment scam cases. That works out to an average of RM96,700 per case and roughly RM2.29 million lost every single day.

Syndicates begin by scouting targets on social media before shifting conversations to WhatsApp, Telegram or private messaging apps. Victims are then invited into groups run by so-called "investment experts", "financial mentors" or "professional traders" who promote fraudulent schemes ranging from Ponzi setups to fake cryptocurrency and gold investments.

Another common tactic involves love scams, where victims are groomed through online relationships before being persuaded to pour money into non-existent investment opportunities. The fear of missing out, known as FOMO, is deliberately exploited, with scammers pressuring victims into quick financial decisions by creating a false sense of urgency around supposedly lucrative returns.

Police data shows investment scams cut across all demographics. People aged 31 to 50 formed the largest group of victims, followed by those aged 21 to 30 and 51 to 60. Private sector employees were the most commonly affected, followed by civil servants, the self-employed and retirees.

How much money have Malaysians lost to investment scams in 2026?

Between January and June 2026, Malaysians lost RM413.81 million across 4,279 cases, averaging RM2.29 million per day.

How do I report an investment scam in Malaysia?

Call 997 (NSRC), lodge a police report, and check suspicious accounts via SemakMule at semakmule.rmp.gov.my.