Elderly man loses over RM100,000 in forex scam
05 Aug 2025 02:58pm
The victim made a capital payment of RM3,000 and was given a fake receipt as proof that the money had been deposited into his forex account. - Bernama file photo for illustration purpose only
KUALA TERENGGANU - An elderly man lost more than RM100,000 after falling prey to a foreign currency exchange (forex) scam.
Kuala Terengganu police chief ACP Azli Mohd Noor said that the 77-year-old joined a forex scheme on May 28 after being coaxed by the sister of a woman he had befriended on Facebook.
Azli said that in the first week, the victim made a capital payment of RM3,000 and was given a fake receipt as proof that the money had been deposited into his forex account.
"The suspect also sent him a WhatsApp screenshot showing the profit he had made. Excited, the victim continued to make additional capital investments of RM69,000.
"The victim then tried to withdraw his profits but was instructed to make another payment of RM35,844, claiming that the profits he made involved elements of money laundering,' he said in a statement today.
Azli said the victim, upon realising he had been deceived, lodged a police report, and the case is being investigated under Section 420 of the Penal Code. - BERNAMA
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