JOHOR BARU: A 64-year-old engineer from Singapore has fallen victim to an online investment scam, losing RM1.9mil.
“According to the man, he came across an investment advertisement on Facebook in December 2023. The man, who was in Singapore, clicked on the link provided to get further information,” said Johor police chief Comm Datuk M. Kumar.
“He was subsequently added to an investment-related WhatsApp group where he was briefed on the investment process.
“The man was told that he only needed to provide the capital. The investment would be fully managed by the company, which promised returns of 5% to 12% on the amount invested,” he said.
According to Comm Kumar, the engineer, lured by the prospect of substantial profits, complied with the instructions to download an application for registration and track his alleged investments and gains.
Between February and March of this year, the victim made online payments totalling RM1,948,000 to a Malaysian bank account.
“He only realised he had been duped when he was unable to withdraw the profits shown in the investment application.
“He was also asked to make further payments, including taxes, to recover the invested capital. Attempts to contact the suspect proved futile thereafter,” he said.
Comm Kumar said that Johor police were notified about this after they received a report from the engineer last Thursday.
The victim, he said, had made a police report in Johor as the money was transferred to a bank account in Malaysia.
“We would like to remind the public to be wary of online investment offers promising high returns.
“They should also verify the legitimacy of companies or investments with relevant bodies such as the Securities Commission and Bank Negara,” he said.
The public, he said, could use the online “Semak Mule” service to check the status of phone numbers or bank accounts for records of fraudulent activity.
