Kuala Lumpur: “I burned RM50,000 because I believed in the existence of a German treasure chest. I’m truly regretful. I was foolish and too easily convinced by promises from someone I didn’t even know.”
That was the admission of a 45-year-old local businessman who fell victim to a scam syndicate known as the German External Loan Box, involving an overseas “treasure chest” supposedly worth tens of millions of ringgit.
The victim, who wished to be identified only as Ismail, said everything began in June after he befriended a man believed to be an Indonesian national through social media.
“He spoke with such confidence, as if the whole deal was legitimate. He claimed the chest was a special deposit from Germany that could be redeemed for cash worth tens of millions of ringgit.
“He only asked me to help cover the administrative fees and delivery charges. He insisted the amount was small compared to the profit I would supposedly gain,” he said when interviewed.
According to him, the suspect even showed photos of a safe box complete with a serial number and what appeared to be German banking documents.
“I admit I was swayed by the promise of huge returns and made several money transfers to local bank accounts he provided, without thinking twice.
“In total, I transferred RM50,000. At first, I believed the process was genuine because he kept sending receipts and documents that made it look official.
“But after the full payment was made, the same man demanded more money, claiming it was for release taxes, international transport fees, and fund insurance. When I refused, he disappeared. The promised chest never arrived.
“RM50,000 is no small amount. It was my hard-earned money from business. I deeply regret it. This has been a huge lesson never trust promises of unrealistic returns. I hope others learn from what happened to me,” he said.
The assets are falsely claimed to be high-value items dating back to World War II or the Cold War era.
“Scammers claim the treasure is stranded overseas and that they need investors to help ‘redeem’ it or ‘activate’ locked security codes and banking documents.”
Source: Harian Metro
HackWarn Alert
Key Warning Signs
- Promises of treasure chests, war-era assets, or foreign safes worth millions.
- Requests for administrative fees, delivery charges or tax payments before funds are “released.”
- Scammers using fake receipts, bank documents, and serial-numbered images to appear legitimate.
- Strangers contacting victims through social media, speaking with confidence to gain trust.
Lessons for the Public:
- If an offer sounds too good to be true, it is.
- Never transfer money to unlock or redeem supposed overseas assets.
- Photos and documents can be easily fabricated.
- Always verify with authorities or financial institutions before making any payments.
- Do not rush decisions under pressure from unknown individuals.
- Report suspicious activities to authorities immediately.
