Woman loses over RM645,000 in online investment scam
JOHOR BARU: A retired woman lost more than RM645,000 after falling victim to an online investment scam.
Johor Baru South police chief Assistant Commissioner Raub Selamat said the 61-year-old woman told police that the incident began in November last year.
He said the victim said she had come across a stock investment advertisement on TikTok that caught her attention.
She then contacted the supposed investment agent through several phone numbers provided.
"The agent claimed to represent stock investments operating in Malaysia and China, promising extraordinary returns of between 200 and 600 per cent," he said in a statement today.
Raub added that the victim was then instructed to download two investment applications to participate.
He said the victim made 58 money transfer transactions to 13 local bank accounts between Jan 13 and April 9 this year.
The amount "invested" totalled RM645,169.29.
However, said Raub, the victim did not receive any returns.
"Initial investigations revealed that all the involved bank accounts had been flagged in 90 previous fraud cases," he said.
The case is being investigated under Section 420 of the Penal Code for fraud.
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