SC: At least RM24.7m may have flowed to clone firm scams

The Securities Commission Malaysia's (SC) investigation into 10 clone firm scams has revealed that at least RM24.7 million may have flowed to several "masterminds" of these scams based on 154 bank statements reviewed.

The findings revealed that the modus operandi of these clone firm scams is to target victims/investors who are willing to part with a small amount of money but...