KUALA LUMPUR: An insurance agent lost approximately RM1.58 million after allegedly being deceived by an investment scam linked to gambling activities in Singapore last year.
Bukit Aman Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf said the 58-year-old woman was lured into the scheme after connecting with an individual via WhatsApp in November 2024.
“After signing up, she was contacted by someone posing as a customer service officer who instructed her to make payments to start the investment.
“Between Dec 19, 2024, and Feb 20, 2025, the victim made 27 fund transfers to six bank accounts registered under six different companies,” he said in a statement today.
Ramli said investigations showed that in addition to her savings, a significant portion of the money was sourced from bank loans, four credit cards and her friends.
He added that the victim realised she had been deceived when she did not receive the promised returns but was instead pressured to make further payments to withdraw the displayed profits.
The case is being investigated under Section 420 of the Penal Code.
Meanwhile, police have warned about an investment scam that uses deepfake videos to deceive victims.
Ramli said a Facebook advertisement used a digitally manipulated video featuring Tesla Inc. chief executive officer Elon Musk and Seputeh MP Teresa Kok, making it appear like they were promoting the scheme.
“It claims that investors can start with as little as RM1,200 and potentially earn up to RM100,000 per month. It even asserts that the Malaysian government has approved the scheme.
“The public is urged to remain vigilant and not fall victim to such scams,” he advised.
