MHO Urges ASEANPOL to Act on RM105 Million Indonesian Forex Scam

The Malaysian International Humanitarian Organisation (MHO) has urged the ASEAN Chiefs of National Police (ASEANAPOL) to take action against an Indonesian company accused of running an illegal forex investment scheme. The alleged scam has affected over 400 victims, resulting in nearly RM105 million in financial losses.

MHO Secretary-General Datuk Hishamuddin Hashim emphasized the need for coordinated efforts to address this cross-border crime case, which falls under Indonesian jurisdiction. After lodging a complaint with the Indonesian embassy, Hishamuddin said, "Police reports and investigation papers have been filed in this country, but further action depends on Indonesian law. To facilitate the investigation, MHO suggests that Indonesian embassy police record statements locally to avoid travel to Indonesia. This would allow victims to give testimony, enabling a formal investigation and prosecution under Indonesian law."

Hishamuddin urged action against people and companies linked to the fraudulent forex scheme. The complaint was received by Juliarman E.P. Pasarib, a representative of the Indonesian embassy police.

According to MHO, approximately 400 complaints had been submitted by victims—originating from Malaysia, Indonesia, Brunei, and Singapore—who began investing in the scheme in 2018. Problems reportedly surfaced in 2021 and 2022 when returns on investments ceased, leaving victims with losses of nearly RM105 million.

The fraudulent operation is believed to involve four individuals, including two Indonesians and a Malaysian, and is reportedly managed by a Russian national described as a forex trading expert. The Russian national conducted coaching classes in Malaysia.