RM1.25 Million Clone Investment Scam Exposes Network of Reused Corporate Bank Accounts Linked to “JMC Capital Club”

A recent RM1.25 million clone investment scam is uncovered by Malaysia’s Commercial Crime Investigation Department (CCID). The case involved a 50-year-old victim who was drawn into a scheme branded as “JMC Capital Club” after encountering investment promotions on social media.

Funds were transferred across multiple corporate bank accounts — including JMC M Trading Venture, JMC Top Trading, JCG Entire Trading Sdn Bhd, and JMC Flex Solution — following instructions delivered through private messaging channels.

Authorities later confirmed that the scheme had no connection to any legitimate Hong Kong–based investment firm operating under a similar name. JMC Capital Group Limited has also warned that these scams misuse its name and brands, and that the company has never authorized any promotional activity on WhatsApp or other unofficial channels.

The structure of the fraud reflects an increasingly common enforcement concern: scammers are deliberately routing funds through formally incorporated businesses to reduce suspicion and delay detection. Malaysian police have repeatedly stressed that company registration offers no protection against fraud exposure.

Repeat Entities and Concentrated Exposure

CCID’s database shows that several of the entities linked to this case have appeared across dozens of separate police reports, with JMC M Trading Venture alone associated with 20 cases. Investigators view this concentration as evidence of coordinated misuse rather than accidental account compromise.

This mirrors broader enforcement data indicating that fraud losses in Malaysia have climbed into the billions over recent years, driven largely by investment scams exploiting digital payment rails. Authorities recorded RM2.77 billion in scam losses in 2025 alone, marking the highest annual figure on record.

Platform Illusions and Withdrawal Traps

The fraudulent app used in the scheme displayed artificial profits exceeding RM16 million, before triggering a demand for an additional “withdrawal fee” equivalent to 30% of the stated balance — a red flag repeatedly highlighted by regulators. Law enforcement agencies have warned that demands for upfront fees to unlock profits are a defining feature of clone investment scams.

BrokersView reminds readers that verifying recipient accounts through official tools, and treating unsolicited investment promotions with extreme caution, remains critical as financial crime tactics continue to evolve.