Despite numerous awareness campaigns about scams, people still fall victim to these tricks by scammers.
Recently, a 63-year-old Malaysian retiree lost over RM4 million after being deceived by a fraudulent investment scheme advertised on Facebook.
According to NST, the Shah Alam police chief Assistant Commissioner Mohd Iqbal Ibrahim, the woman encountered the advertisement in March and was subsequently added to a WhatsApp group.
She was instructed to open a Foreign Direct Investment (FDI) Hub account to facilitate her investments.
The victim was enticed by promised returns of 11 to 13 percent and the prospect of continuous profit growth, prompting her to proceed.
“As instructed, she opened the FDI Hub account and made 42 transactions from March to the end of May, amounting to RM4,749,214,” Iqbal stated.
After her investments reached RM11.3 million, the woman attempted to withdraw funds but discovered that no money had been deposited into her bank account.
Distressed, she filed a police report at 12.30 am today at the Section 9 station.
The case is currently under investigation under Section 420 of the Penal Code, which carries a penalty of imprisonment for a term not less than one year and not more than ten years, with whipping and a fine.
The police urged the public to be wary of investment advertisements, especially those on social media, promising high returns in a short period.
“Investments should be conducted through legitimate platforms registered with Bank Negara Malaysia (BNM). The public can verify a company’s registration on BNM’s website and should contact the police if they encounter suspicious investment offers,” he added.
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