scams

Cryptocurrency thefts, scams hit US$1.7b in 2018
NEW YORK: Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. [...]
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MP’s aide warns public of doppelgänger scams online
Lim Lip Eng's political secretary Yew Jia Haur (left) speaks during the press conference at the DAP office in Kepong January 9, 2019. ― Picture by Hari Anggara KUALA LUMPUR, Jan 9 — Fraudsters are masquerading as legitimate businesses online, an aide to Kepong MP Lim Lip Eng said today when urging the public to confirm the identities of online traders before parting with their money.Yew Jia Haur said over 30 people have been deceived into depositing funds for non-existent vehicles advertised online using the names of an existing used-car firm.According to KC Wong, a co-owner of Chong Wai Motor Enterprise that was used this way, the scammers had used his firm’s address in Kepong, logo and nearly-identical name to trick potential victims into paying.“The only difference between our company and the cheaters is that theirs is spelt Chong Wai Motor Enterprise (M) Sdn Bhd.“Everything else is the same except for bogus bank accounts not registered under us and contact person that the scammers used in their ploy,” he said during a press conference here.Wong said the scammers lured victims by advertising non-existent used cars at below market price on Mudah.my since early last December.“At first there were two to three victims a week, then it gradually increased to a daily frequency with victims from all over the country turning up to claim their vehicles which they had previously paid a deposit upfront to the scammers.“We had to turn them down after explaining that they have been cheated and we did not lie to them. Sure enough, the contact person listed in the advertisement became unreachable,” he said.Wong, 32, said checks on Mudah.my revealed that the fake postings were still up despite multiple complaints made to the web administrator.He also said the online sales site’s administrators could also only remove the listings and could not offer any relief to victims.It was also trivial for the scammers to put up new listings once the administrators remove those identified as scams, he added before saying the latest activity was as recent as yesterday.Wong’s father, Jeffery, said the company has lodged two separate police reports on December 6 and 29 after the first incident came to light.“The first time, the officer told us they could not take action due to insufficient evidence.“We made a report the second time due to the sheer number of victims turning up at our doorsteps,” he said.Jeffery, 59 said some victims were demanding their deposits from his firm even after being told that they have been conned.He said his firm has no access to the funds as the bank accounts used to take the deposits were not theirs.“We hope the police can take action against the scammers still operating on the website and we have urged all victims to lodge their own reports to pressure the authorities,” he said.Yew said the total estimated losses were around RM50,000, with each victim being duped of between RM1,000 and RM2,000.“There is always a risk faced during online transactions where face-to-face communication is not present. “I hope victims will take precautions now especially on the listed price when it is too good to be true,” he said. [...]
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Protect children against scams
JOHOR BARU: Parents should play a more active role to protect their children against Macau-style scams. [...]
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