{
  "id": 3376422,
  "title": "Social media and FOMO fuel investment scams [WATCH]",
  "url": "https://urgent.news/2026/08/25/social-media-and-fomo-fuel-investment-scams-watch",
  "topic": "world",
  "section": "World",
  "published": "2026-08-25T23:05:22.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/nation/2026/08/1518770/social-media-and-fomo-fuel-investment-scams-watch"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR - Investment scam rings are increasingly utilizing social media, online connections, and victims' fear of missing out (FOMO) to swindle Malaysians into fraudulent schemes, according to Datuk Rusdi Mohd Isa, director of the Commercial Crime Investigation Department (CCID) in Kuala Lumpur. Scammers are no longer limited to telephone calls and fake websites; instead, they employ multiple digital platforms such as Facebook, Instagram, TikTok, WhatsApp, and Telegram to identify potential victims and lure them into fraudulent investments. Victims may be targeted through group chats led by investment experts or financial mentors, or through romantic scams where online relationships are cultivated before victims are persuaded to invest in non-existent schemes.\n\nThe CCID reported that Malaysians lost a total of RM413.81 million in 4,279 investment scam cases between January and June 2023, averaging RM96,700 per case, or RM2.29 million daily. This amount could buy between 54 and 65 PPR units, based on government selling prices. Investment scams are not restricted to retirees or financially inexperienced individuals; victims span various age groups and occupations. Private sector employees, civil servants, the self-employed, and retirees are the most commonly affected groups.\n\nDetecting and preventing stolen funds' movement poses a major challenge for investigators, as some mule accounts belong to people who rent or lend their bank accounts to scammers, while others involve those unwittingly opening accounts for third parties. The existing account-freezing mechanism, involving the National Scam Response Centre (NSRC), CCID, Bank Negara Malaysia, and financial institutions, has frozen RM17.49 million and earmarked RM34.05 million in stolen funds. The earlier a report is lodged with NSRC and police, the higher the likelihood of earmarking and freezing funds before they are moved elsewhere.\n\nRusdi emphasized the importance of verifying investment opportunities before committing savings and warned that no investment can guarantee high returns within a short period without risk. He also cautioned that the threat is expected to become more sophisticated as scammers exploit advances in technology, such as artificial intelligence and deepfake technology. To strengthen the response to scams, the CCID is collaborating with various agencies, including the Malaysian Communications and Multimedia Commission, CyberSecurity Malaysia, and the Securities Commission Malaysia.",
  "summary": "KUALA LUMPUR: Investment scam syndicates are increasingly exploiting social media, online relationships and victims’ “fear of missing out” to lure Malaysians into fraudulent schemes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "New Straits Times",
        "title": "Social media and FOMO fuel investment scams",
        "url": "https://urgent.news/2026/08/25/social-media-and-fomo-fuel-investment-scams",
        "published": "2026-08-25T23:05:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}