GOMBAK: A 37-year-old housewife lost more than RM131,000 after pawning her jewellery to invest in an online scheme that promised high returns.
The victim was drawn into the scheme last month after coming across an investment advertisement on Telegram. She contacted a man linked to the scheme and was asked to complete a “test” to qualify as an investor. She was later instructed to open an investment account through a link provided by the suspect.
According to a source, the woman transferred funds into multiple bank accounts using money obtained from pawning her jewellery. Despite exhausting her savings, the suspect continued to pressure her to invest more.
When the victim enquired about her returns, the suspect allegedly gave repeated excuses, and no profits were received. Realising she had been deceived, the woman lodged a police report yesterday.
Gombak police chief Assistant Commissioner Noor Ariffin Mohamad Nasir confirmed the report and said the case is being investigated under Section 420 of the Penal Code for cheating. The offence carries a jail term of up to 10 years, whipping and a fine upon conviction.
Police are currently awaiting bank statement verification as part of the investigation. Source: NST
HackWarn.com Analysis
Why the Scam Succeeded
The scam exploited social media advertising, false legitimacy through “investor tests”, and pressure tactics to extract increasing amounts of money.
Promises of high returns and repeated demands caused the victim to exhaust her assets before realising the fraud.
Key Warning Signs
- Investment offers found on Telegram or private messaging platforms
- Requests to open accounts via unknown links
- Pressure to invest more before any returns are paid
- Excuses or delays when profits are questioned
Safety Advice
Always verify investment platforms with official authorities, avoid sending money to multiple personal bank accounts, and never pawn personal assets for unverified online investments.
