Company manager loses more than RM400,000 to online scam

Police said the 51-year-old man dealt with several unknown individuals via the WhatsApp application and carried out cash transactions from March 21 until May 12. — Unsplash

SEREMBAN: A private company manager lost RM401,075 after falling victim to a non-existent online investment scheme.

Seremban police chief ACP Mohamad Hatta Che Din said the 51-year-old man dealt with several unknown individuals via the WhatsApp application and carried out cash transactions from March 21 until May 12.

"The victim made 19 cash transactions using his own money. The man lodged a police report yesterday after realising that he had been duped,” he said in a statement today.

He added that the case is being investigated under Section 420 of the Penal Code.

According to him, non-existent online investment scams are among the cases with the highest losses compared to other cases for the first quarter of this year.

The public is advised not to be easily duped by parties offering online investment schemes promising high profits. – Bernama