Retiree loses over RM478,000 to investment scam


KUANTAN: A retiree lost over RM478,000 after falling victim to a non-existent investment scheme promoted on social media.

Pahang police chief Datuk Seri Yahaya Othman said the 69-year-old man first expressed interest in the investment advertised on Facebook in July.

He explained that the victim was provided with a link to download the investment platform, while the suspect offered training via WhatsApp, convincing the senior citizen that he could obtain returns up to three times the invested sum.

"As a result, the victim transferred over RM478,000 from his savings through 33 transactions to four accounts provided by the suspect, from Sept 10 until this Tuesday,” Yahaya said in a statement on Friday (Oct 25).

The man became suspicious when he could not withdraw his investment and subsequently filed a report at the Kuantan District police headquarters on Thursday. The case is being investigated under Section 420 of the Penal Code for cheating.

Meanwhile, Yahaya cautioned the public to be wary of online investment schemes promising high returns. He also advised individuals to verify account numbers through https://semakmule.rmp.gov.my before making any transactions. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Review eKasih criteria for helping disaster victims, Upko leader urges Putrajaya
'Significantly higher' Federal allocations to continue for poorer states under 13MP, says Rafizi
Govt aiming to cut fiscal deficit to 3.8% this year
Bank employees honoured for scam prevention efforts
Ex-lecturer’s defence team to file representation to review murder charge
Report: Scam calls in Malaysia skyrocketed by 82.81% in 2024
Provisional registration of medical grads down 38% since 2017, says MMC
Not enough evidence to charge Zeti, says Azalina
Bank staff trained to spot ‘red flags’ prevent RM12.4mil in fraudulent transfers
Journalist’s arrest was based on lodged report, says Azam

Others Also Read