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BUKIT MERTAJAM: A 57-year-old woman lost more than RM1.68 million in an online investment scam involving a bogus platform.
The victim, a retiree from a private firm in Penang, was first contacted via WhatsApp in late March by a man claiming to be from Hong Kong.
After three weeks of communication, she began referring to the suspect as her “adopted brother”.
Penang police chief Datuk Hamzah Ahmad said the suspect later persuaded the victim to invest in an online scheme via a mobile app.
“The victim was promised returns of up to 10 per cent within a short period,” he said in a statement today.
Hamzah said the woman made her first investment of USD2,000 (RM8,716) on March 18 and received a return of RM10,023, which convinced her of the platform’s legitimacy.
“Believing the scheme to be genuine and profitable, she went on to make 36 transactions between March 14 and June 14, depositing funds into 20 different bank accounts belonging to various companies.
“In total, she lost RM1,680,464,” he said.
The scam came to light when the victim attempted to withdraw her returns but was unsuccessful. She was then asked to make additional payments to release the funds, prompting her to suspect foul play.
The woman subsequently lodged a report with the Commercial Crime Investigation Department at the Seberang Prai Tengah district police headquarters yesterday.
The case is being investigated under Section 420 of the Penal Code for cheating.
This incident follows a similar case reported yesterday in which two men, including a senior citizen, lost a combined total of RM2.35 million in separate online investment scams.
Police have urged the public to exercise greater caution when dealing with financial schemes promoted on social media platforms.
© New Straits Times Press (M) Bhd
