MALAYSIA: A 47-year-old unemployed man lost RM310,000 after falling for an online investment scam promoted through a online advertisement, police said.
Muar OCPD Asst Comm Raiz Mukhliz Azman Aziz said the victim responded to the advertisement in September by entering his personal details, after which he was contacted via WhatsApp by an unknown individual.
The scammer convinced him to download an investment application that supposedly offered returns of 10% to 30%, depending on the investment amount.
Believing the claims, the victim made 17 transactions between Nov 10 and Dec 5, using his savings as his sole source of income. The app later displayed a fake profit dashboard showing his “investment” had grown to over RM2.5 million.
The victim realised he had been scammed when he attempted to withdraw the supposed profits. The scammer then demanded an additional RM382,811.60 in fees.
ACP Raiz Mukhliz said the case is being investigated under Section 420 of the Penal Code for cheating. He reminded the public not to share banking details or transfer money based on suspicious calls or online advertisements, and to verify information via official channels such as Semak Mule and the CCID Scam Response Centre.
Source: The Star
🔍 HackWarn.com Analysis
Why the Scam Worked
- Fake high returns of 10%–30% created false confidence.
- Professional-looking app showed fabricated profits of over RM2.5 million.
- Direct WhatsApp communication made the scammer appear legitimate.
- Pressure for additional fees exposed the fraud only at the withdrawal stage.
Key Safety Tip
Real investments never require payments to unlock profits, nor do they guarantee high returns.
Always verify platforms through official regulators, and check bank accounts or phone numbers via Semak Mule before transferring money.
