KUALA TERENGGANU, Jan 28 — Terengganu police recorded a total of 1,237 cases of commercial crimes involving a total loss of RM33.32 million throughout the year 2023, compared to 1,311 cases with a total loss of RM24.32 million in 2022.

Terengganu police chief, Datuk Mazli Mazlan, said that the statistics from the Terengganu Commercial Crime Investigation Department showed an increase in losses in 2023 by RM8.9 million or 37 per cent compared to the previous year.

"As for the arrests related to commercial crimes, there were 658 arrests in 2023, compared to 536 arrests in 2022, indicating an increase of 122 arrests or 18.54 per cent,” he said in a statement today.

Mazli added that for the period from January 1 to yesterday (January 27) this year, a total of 393 police reports have been received, and 94 investigation papers have been opened, involving a total loss of RM1.4 million.

He shared that the main contributor to commercial crime cases is fraud investigated under Section 420 of the Penal Code, and investment scam cases have been found to be the highest contributors to the total losses.

He said that the latest development saw them successfully bust an investment scam by Harbour Malaysia Group (HMG), with the arrest of three men and a woman yesterday.

The arrests under Operation Nuri were carried out after the Terengganu Police received 12 reports on non-existent investments promoted by two companies named Smart Harbour Global Trading (SHGT) and HMG Capital Bhd, involving a total loss of RM460,179.

"Together with these arrests, four mobile phones of various brands were also seized.

"The individuals involved had deceived victims by claiming that these companies were stable as they had business networks in Malaysia, Indonesia, and Brunei; listed on the Bursa Malaysia; and also possessed assets worth RM3 billion,” he said.

He explained that the modus operandi of this investment scam involved taking investment deposits through MPay accounts for each investment package offered.

"There were three investment packages with a profit rate of three to six per cent allegedly offered for investment in various businesses including Kretek cigarettes, housing construction and condominium development,” he said.

Police advised the public to always be vigilant, cautious and conduct checks before making any transactions, as well as to take proactive steps to avoid falling victim to investment scams. — Bernama