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Malaysia Scams: How They Work and How to Avoid Them

Posted On   date07/10/2015

Malaysia Scams: How They Work and How to Avoid Them

As an international private investigation firm, Wymoo International is able to track part of what is going on in the world in terms of fraud, scam and crime. One of the most important tasks that the Wymoo investigation team has taken in as part of their job is to keep an eye on trends and to alert and educate the public on the specific situations that pose a risk, and how to avoid being a victim.

Malaysia is part of a region that has had a tremendous economic growth in the past two decades. Southeast Asian countries have risen and are becoming every day more industrialized and more competitive. Malaysia also has plenty of natural resources, a growing GDP and a plan to become a self-sufficient industrialized nation by 2020.  But, there is major risk here.

Growing too fast leaves many people behind, and it  is one of the main causes of fraud and scam thriving in a nation, not to mention the growing ambitions of certain sectors of society. Investigators in Malaysia say that many Malaysians and foreigners are trying to access and profit from this exploding market, but not in the honest way.  Criminals are using the internet to cash in on victims.

According to the World Economic Forum, Malaysia’s economy in 2014–2015 was one of the most competitive in Asia, ranking 6th in Asia and 20th in the world. The sad part is that Malaysia is also ranked as one of the highest nations for fraud.   False resumes, fake websites, investment scams, fake companies, romance scams, marriage fraud, and many more scams are growing.

Malaysian scams have evolved in time from the traditional romance scams that were also a trend in its neighboring country the Philippines, to very elaborate business and investment scams. Corruption is also a big problem in the country, and it has contributed to the increasing rates of fraud since many of the new scam schemes involve government employees.  Fake documents are common.  As in many of the developing countries, anything can be done here if you are willing to pay the right price.

Malaysian scammers are using mainly the internet to contact their potential victims, especially business people looking for options in this booming market. The new wave of investors in Malaysia is now aware that doing their due diligence and research prior to investing is a big part of the deal. But thousands of people and companies keep falling victim to Malaysian scams every day.

How to avoid scams in Malaysia

Malaysia investigators urge business people who are interested in Malaysia to go in knowing the risk, and to consider a professional background check investigation or due diligence to reduce the high risk here. Keeping your fingers crossed and hoping for the best can produce serious damage to your own finances or your company, and can be a dangerous game to play in Malaysia.

Regardless of the deal you are in, whether it’s an investment in a potential partner company or supplier, or an online romance, investigators say it’s never been more important to contact a professional who can help you verify. Malaysian scammers are good, and they have a support network that can easily fool anyone. It takes real professionals to uncover the evidence you need.

If you are considering hiring or investing in Malaysia, or have met someone via the internet who is currently in or from Malaysia, be safe and speak to a professional private investigator.

International private investigators also recommend guarding your personal data and not revealing any sensitive data about your company until you are certain you know who you’re dealing with.  Share less online to protect yourself.  Verification services serve as valuable tools to help you make an informed decision and avoid the Malaysian scams and fraud, which are growing by the day.

So far, law enforcement in Malaysia has yet to make much progress in stopping this growing problem, and although royal authorities are claiming to increase transparency and the end of corruption, there is still a long way to go.  The simple truth is online criminal are hard to identify.

Online crime can be prevented if using the right tools. Professional investigators will help you verify any deal and make sure it is safe to proceed. Contact us today for a free quote.

C. Wright

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