Retired civil servant loses RM3 million in fake investment scam

JOHOR BARU: A 62-year-old retired civil servant lost more than RM3 million after falling victim to a non-existent online investment scheme promising instant returns.

Johor police chief Datuk Ab Rahaman Arsad said the woman lodged a report on Oct 24 after realising she had been scammed.

He said the victim came across a social media advertisement in July promoting a “profitable and easy” stock investment scheme.

“Enticed by the promise of quick gains, she clicked on the link and contacted the suspect, who later instructed her to download an application purportedly to monitor her investments,” he said in a statement today.

Between Aug 19 and Oct 15, he victim made 29 bank transfers totalling RM3,070,443 to six bank accounts as directed by the suspect.

“She became suspicious after she was unable to withdraw her ‘profits’ via the app and could no longer contact the suspect,” said Rahaman.

The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years, whipping, and a fine.

Rahaman urged the public to be wary of online investment offers that promise easy and quick profits, especially those promoted through social media.

He advised the public to verify bank account and phone numbers through the Semak Mule application before making any payments or fund transfers.

“For immediate assistance in blocking fund transfers to scammers, the public should contact the National Scam Response Centre (NSRC) at 997,” he added.

© New Straits Times Press (M) Bhd

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