JOHOR BAHRU: A retired civil servant lost RM3.07 million after falling victim to a fraudulent online stock investment scheme advertised on social media last July.
Johor Police Chief Datuk Ab Rahaman Arsad stated that the 62-year-old woman was enticed by promises of quick and easy profits before clicking the advertisement link and contacting the suspect.
The victim was instructed to download a mobile application supposedly for monitoring her investment progress.
She subsequently made 29 bank transfers totalling RM3,070,443 to six different accounts between August 19 and October 15 as directed by the suspect.
The retiree realised she had been cheated when she could not withdraw her investment money through the provided application and the suspect became unreachable.
She filed a police report last Friday after discovering the deception.
Police are investigating the case under Section 420 of the Penal Code for cheating.
Ab Rahaman advised the public to remain vigilant against investment offers promising quick profits, particularly those promoted through social media platforms.
He emphasised the importance of verifying investment opportunities before transferring any money to prevent similar financial losses. – Bernama
