KUALA LUMPUR: Online shopping fraud is a double-edged sword. It not only involves international syndicates using names of local companies, but also taints Malaysia’s good image.
Bukit Aman Commercial Crime Investigation Department director Datuk Syed Ismail Syed Azizan said, syndicates which victimised foreign companies also affected the credibility and reputation of local companies.
“Syndicates use names of local companies and cheat foreign companies in trade transactions of various goods.
“Their modus operandi is that buyers will not receive the goods sold after payment has been made. This is negative for the image of the company used, as well as that of the country,” he told Bernama here yesterday.
Investigations have indicated that the syndicates used names of local companies but changed details such as address and phone number, said Syed Ismail.
So far, the police have received 49 complaints through e-mail and from Malaysian embassies, in connection with such activities.
Syed Ismail said, between January and September this year, a total of 3,889 cyber crime and online shopping fraud cases were reported.
“Online shopping fraud registered losses of almost RM14.6 million while cyber crimes accumulated a total of RM80.2 million in losses during this period,” he said, adding online shopping fraud usually involved auction transactions.
On Nov 12, a group of African men, using a local surgical glove manufacturing company as front, were detained for fraud involving property.
The syndicate caused several foreign companies, including those from Australia, Greece, Libya and China, to incur losses of about RM1.86 million after they were scammed through business transactions. — Bernama
Read more: http://www.theborneopost.com/2012/11/15/online-shopping-fraud-taints-good-image-of-malaysia-local-firms/#ixzz2CJQL8MPg