Accounting manager loses RM1.365 million in online investment scam

GEORGE TOWN: A 70-year-old accounting manager of a private company lodged a police report after losing RM1,365,000 in an online investment scam.

Penang police chief Datuk Hamzah Ahmad, in a statement today, said the Commercial Crime Investigation Department of the southwest district police headquarters received a report on Monday and that the case is being investigated under Section 420 of the Penal Code.

He said based on the report, the victim alleged that around the end of December last year, he came across an advertisement on WhatsApp promoting a stock trading scheme on the stock exchange.

He said the victim claimed the investment promised returns of between eight and 15 per cent within two months.

“The victim was instructed to download an application called BIONM, register as a member and invest through the app.

“The victim subsequently made 14 fund transfers to four bank accounts.

“The victim realised that he had been scammed when he was asked to make an additional payment of RM1,000,000 in order to withdraw the accumulated profit of RM11,000,000 via the application.”

Hamzah reminded the public of the high risks of participating in any investment scheme, especially those offered online.

He said it was essential to verify with Bank Negara Malaysia (https://www.bnm.gov.my) and the Securities Commission Malaysia (https://www.sc.com.my) to ensure that any entity or individual is authorised by the agencies to offer, promote or sell capital market products or services.

He said the “Semak Sebelum Lebur” portal is also available as a reference for investors before making investment decisions.

© New Straits Times Press (M) Bhd

Source link