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The following is a list of reported scams and scandals in Malaysia since independence. These include political, financial, corporate and others. Entries are arranged in reverse chronological order by year. The year is the one in which the alleged scam was first reported or came into knowledge of public.
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure ...
1860s. Jacob Young, William Abrams, and Nancy Clem ran what author Wendy Gamber argues, in her book The Notorious Mrs. Clem: Murder and Money in the Gilded Age, was the first-ever Ponzi scheme. [ 1][ 2] In Munich, Germany, Adele Spitzeder founded the "Spitzedersche Privatbank" in 1869, promising an interest rate of 10 percent per month.
Malaysia will require social media services to apply for a license if they have more than 8 millon users in the country from August 1, in an attempt to combat increasing cyber offences, said the ...
BurnLounge (shut down as pyramid scheme by FTC in 2012) Equinox International (dissolved in 2001) European Grouping of Marketing Professionals /CEDIPAC SA (dissolved in 1995) European Home Retail (dissolved in 2007) Fortune Hi-Tech Marketing (dissolved in 2013)
Anti-corruption bodies. Former Malaysian Anti-Corruption Commission headquarters. The Malaysian Anti-Corruption Commission (MACC) is a government agency in Malaysia that investigates and prosecutes corruption in the public and private sectors. The MACC was modelled after top anti-corruption agencies, such as the Hong Kong's Independent ...
Other types of non-violent crime include credit card fraud and motor vehicle theft; [12] there is a high rate of credit card fraud. [12] [13] Scams are a problem in Kuala Lumpur which involve card games and purchase of gold jewellery. [11] However, in the early 2010s, Malaysian society was rocked by several high-profile murders of tourists.
Since there is no limit to a scam artist’s potential, recognizing signs of common scams will serve you well. Here are examples of three of the most common scams out there today and how to block ...