JOHOR BARU: An engineer lost more than RM340,000 after falling for an investment scam promising 500% returns in one month.
Seri Alam OCPD Asst Comm Mohd Sohaimi Ishak said the 33 year old made over 11 transfers from his savings.
He said the money went to three bank accounts between October 21 and November 19.
“The victim made transactions totalling about RM341,331 after believing the online investment could generate 500% returns in a month,” he said.
“However, when he wanted to claim the RM617,206 profit he supposedly earned, he was told to make more payments instead,” added ACP Mohd Sohaimi on Thursday (Nov 27).
ACP Mohd Sohaimi said the victim lodged a police report on Wednesday (Nov 26) after realising he had been scammed.
“The victim became suspicious after failing to receive any of the promised high returns,” he said.
ACP Mohd Sohaimi said the case is being investigated under Section 420 of the Penal Code for cheating.
The offence carries up to 10 years’ jail, a minimum of one year’s jail, fines and whipping upon conviction.
ACP Mohd Sohaimi urged the public to stay alert and take precautions to avoid scams.
“We urge the public to verify any investment offers with the Securities Commission Malaysia. The public should avoid giving personal or banking information to unknown parties,” he added.
He said people should not believe promises of high returns in a short time.
“They can use the Semak Mule portal to check suspicious accounts before making transactions,” he said.
He added that the public should follow CCID social media pages for updates.
Scam victims are advised to call the National Scam Response Centre at 997.
They can also call the CCID Scam Response Centre at 03 2610 1599.
