Crime & Courts

Scammers posing as fund recovery agents targeting fraud victims

KUALA LUMPUR: Scammers are now using a new tactic, posing as fund recovery agents who claim they can help victims recover money lost in previous scams.

This new fraud scheme is designed to ensnare individuals who have already been cheated, luring them into yet another financial trap.

This tactic involves fraudsters pretending to be professional fund recovery agents, offering their services on social media platforms like Facebook and Instagram.

The scammers advertise their services by claiming they can recover funds stolen by fraud syndicates, often accompanied by fake testimonials from supposed clients to build trust.

Victims are encouraged to reach out to the scammers, usually via direct message, to begin the recovery process.

Police have confirmed the existence of this scam.

Federal Commercial Crime Investigation Department (CCID) director, Datuk Seri Ramli Mohamed Yoosuf advised the public not to trust these fraudulent claims.

He emphasised that only law enforcement officials are authorised to recover stolen funds through formal investigation procedures.

"Scammers are trying to deceive victims who have already been scammed, claiming they can help recover the lost money," said Ramli.

"However, the only people authorised to do this are investigators from the police, in accordance with the law."

Ramli said the fund recovery process can take anywhere from three to six months for investigations to resolve, as the police follow specific procedures to block funds transferred to the suspects' bank accounts.

These funds can only be returned to victims in accordance with the Criminal Procedure Code (CPC), under Act 593, and only through official channels.

The police have further emphasised that the recovery process requires victims to file police reports.

Without this step, it may delay or prevent the return of stolen funds. Since the National Scam Response Centre (NSRC) was established in October 2022, around 11,000 victims have failed to file police reports after notifying the agency about transfers to mule accounts, complicating efforts to recover their money.

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