Vending

Malaysian police probe vending machine investment scam after millions lost

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June 24, 2024

Police in Kuala Lumpur, the capital city of Malaysia are investigating a fraudulent vending machine investment scheme following reports of RM5.3 million ($1.2 million) in losses from at least 57 victims, according to a New Straight Times report.

The investigation comes after the Malaysian Humanitarian Organization held a press conference on Saturday, where they revealed 19 complaints from victims who lost RM1.8 million ($414,000) in the scheme before the COVID-19 pandemic.

Federal Commercial Crime Investigation Department Director Datuk Seri Ramli Mohamed Yoosuf urged those affected to file police reports "as soon as possible" to aid the investigation. "Remember greed and ignorance will lead to losses," Ramli told the news outlet.

Authorities warned the public to be cautious of investment schemes and advised consulting relevant financial institutions like Bank Negara Malaysia and the Securities Commission before investing.