A 43-year-old tuition teacher was left devastated after realising she had fallen victim to a fraudulent investment scheme, resulting in a loss of RM886,000.
According to a report by Berita Harian, Pontian District Deputy Police Chief, Deputy Superintendent Abd Hamid Abdul Rahaman, revealed that the woman had met the scammer through social media, "The suspect promised exceptionally high returns, claiming that profits would multiply based on the amount invested," he stated.
Photo via Nyman Gibson Miralis
Lured by the promise of lucrative gains, the victim proceeded to make 30 transactions into an account provided by the scammer, ultimately transferring a total of RM886,000.
The woman was introduced to the fraudulent investment in September last year through an application called ‘Trus Wallet’. However, as time passed, she noticed that neither her initial investment nor the promised returns were being credited. It was only then that she realised she had been deceived.
Authorities are now investigating the case under Section 420 of the Penal Code, which carries a penalty of imprisonment ranging from one to ten years, whipping, and a fine.
Investment scams can be highly convincing, but there are steps you can take to protect yourself:
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Verify Legitimacy – Always check whether the investment company is registered with the relevant financial authorities. In Malaysia, you can verify through the Securities Commission or Bank Negara.
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Beware of Unrealistic Promises – If an investment guarantees high returns with little to no risk, it is likely a scam. Legitimate investments always carry some degree of risk.
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Research Thoroughly – Look for reviews and complaints online. A lack of transparency about how the investment works is a red flag.
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Avoid Pressure Tactics – Scammers often push for quick decisions, urging you to ‘act fast’ to avoid missing out. Take your time and seek professional advice.
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Never Transfer Money to Personal Accounts – Genuine investment firms will never ask you to deposit money into an individual’s bank account.
By staying vigilant and informed, you can safeguard your finances and avoid falling prey to investment fraud.
