Three scammed of RM1.9mil in bogus forex scheme

JOHOR BARU: A man and two women, all locals, lost RM1.9mil in a bogus forex investment scheme.

Johor police chief Comm Datuk Kamarul Zaman Mamat said the syndicate is believed to be operating overseas.

ALSO READ: Watch out for quishing – or phishing with QR codes

“The victims came across an investment opportunity on social media and were interested to invest after being promised handsome investment returns including a principal guarantee.

“They believed the investment was true, having communicated with the organiser through a Zoom app.

"All three victims then made payments (ranging from) RM437,253 to RM864,303 via a (trading) app,” he said in a statement on Monday (Nov 6).

Comm Kamarul Zaman added that in an unrelated case, a woman also lost more than RM299,000 after investing in a cryptocurrency scheme.

ALSO READ: Fake jobs and dangerous deposits

He said the victim also came across the investment offer on social media, promising good returns in a short time.

“Believing the offer, the victim then deposited RM299,373 in seven different bank accounts between July 21 and Sept 1.

“She realised that she had been deceived after failing to withdraw the profits,” he added.

Comm Kamarul Zaman said the two cases were among 13 reports lodged by scam victims between Wednesday and Sunday (Nov 1 and 5) amounting to RM3.3mil in total losses.

All the cases have been classified under Section 420 of the Penal Code for cheating.

ALSO READ: Cops nab 40, smash crypto scam syndicate involving RM50mil losses

He urged the public to always be cautious and not get easily fooled by investments that promise big rewards in a short time.

“They should make proper checks on (any) investments offered as a precaution to avoid becoming a victim,” he said.

Comm Kamarul Zaman urged the public to get the latest information on scams via the police Commercial Crime Investigation Department social media platforms on Facebook, Instagram and TikTok.

He said scam victims should contact the National Scam Response Centre (NSRC) at 997 immediately to stop cash from being moved out of the suspect's accounts.