Seeing red over white collar crimes

2014-02-17 SocialKini

A whopping RM1.775bil was lost through scams, embezzlement, criminal breach of trust and other white collar crimes last year.

The amount, which almost equals the state budget of Selangor, reflects the low level of awareness about such crimes among Malaysians.

According to Bukit Aman’s Commercial Crimes Investigation Department’s (CCID) senior deputy investigation director Assistant Commissioner Najmi Mustaffa (pic), cheating scams and CBT made up most of the cases while the others were misappropriation of funds, cyber crimes, fraud, counterfeit money, illegal money lending, money laundering and sale of illegal VCDs and DVDs.

The highest losses due to white collar crimes were recorded in Kuala Lumpur with 2,279 cases involving RM943mil, followed by 3,248 cases in Selangor (RM281mil) and 1,294 cases in Perak (RM108mil).