KUCHING: Fraudulent vending machine investment schemes have become a growing concern, prompting the National Consumer Action Council (MTPN) Sarawak Chapter to call for vigilance.
These schemes, which have become a growing source of consumer complaints, have left thousands of investors facing devastating financial losses.
MTPN Sarawak in a statement on Sunday, highlighted several alarming cases linked to the scheme.
One victim reportedly paid RM30,000 for a vending machine, which was never installed, it said, adding that the company responsible later cited “financial difficulties” before ceasing operations entirely.
Promoted as low-risk with high returns, these schemes often require minimal initial investments, such as RM1,000 for a vending machine slot.
Despite the low entry cost, the risks are significant, with preliminary estimates suggest thousands of individuals may have been duped, with losses running into vast sums.
Companies involved in these schemes have been accused of using deceptive tactics to lure unsuspecting investors.
According to MTPN there include fake branding where companies create an illusion of success through false advertising.
Also unrealistic returns with promises of monthly profits ranging from 4 per cent to 6 per cent—far exceeding bank fixed deposit rates— which mislead investors into overlooking potential risks.
MTPN Sarawak Chairman, Wynson Ong, emphasised the importance of vigilance:
“The actions of these companies not only threaten consumers’ financial security but also erode trust in legitimate investment opportunities.
“MTPN Sarawak is dedicated to safeguarding consumers and urges the public to verify the legitimacy of any investment.
“Do not be swayed by promises of quick, high returns, and report any suspicious schemes immediately.”
MTPN Sarawak encouraged victims of these scams to come forward with evidence such as payment receipts, contracts, and bank transfer records.
This information is crucial for investigations and potential legal action against the perpetrators, it said.
Those who encounter questionable investment schemes are urged to contact MTPN Sarawak via their hotline at 017-7109299.
