JOHOR BARU: A 55-year-old woman has lost RM751,070 in a non-existent investment scheme, after being introduced to it via Instagram.
According to Johor Baru North OCPD Asst Comm Balveer Singh, the victim was lured by promises of a 10% to 20% return on her investment.
He said the woman initially connected with Elsa through her Instagram account on Sept 18 and the two exchanged messages via WhatsApp, where Elsa provided further details about the investment.
Following Elsa's instructions, the victim downloaded an app and proceeded to make 22 transactions, transferring funds into four different bank accounts from Nov 7 to Dec 13.
"The victim only realised she was cheated after being asked to deposit more money in order to withdraw the amount invested earlier," said ACP Balveer.
The victim lodged a police report on Friday (Dec 27) and the case is now being investigated under Section 420 of the Penal Code for cheating.
ACP Balveer reminded the public to be vigilant when dealing with financial transactions or job offers from unknown individuals.
The public can use the Semak Mule portal to identify scammers' accounts or contact the CCID Scam Response Centre at 03-26101559 or 03-26101599 for assistance.
Scam victims are also advised to contact the National Scam Response Centre at 997 to lodge reports.
