Watch on doubtful fund flows

administered by the central bank,” it said.

It added the financial institutions and money services providers have been directed to heighten their vigilance in detecting the accounts that are used by the perpetrators of financial scams, and identify suspicious transactions and fund flows.

JJPTR has recently found itself under the spotlight after it claimed its trading account was hacked and lost up to RM500 million, forcing its headquarters to shut down and its members to lose their investments.

Its founder Johnson Lee subsequently vowed to come up with a new scheme to raise funds to repay investors.

“I hope all members can give me until May 1, this plan can save members who have suffered losses,” he said in a voice message posted on the company’s Facebook page on April 25, with a teaser video later posted on May 2, purportedly of its new scheme.

However, the Domestic Trade, Cooperatives and Consumerism Ministry has said all businesses such as money games, get-rich-quick, forex and Ponzi schemes under the guise of direct-selling businesses and multi-level marketing are not allowed in the country.

Police are also investigating JJPTR, following a report made in Johor.

“The police have only received one report on the matter and will investigate the case under Section 420 of the Penal Code for cheating,” said Bukit Aman Commercial Crimes Investigation Department (CCID) director Comm Datuk Acryl Sani Abdullah Sani.