Latest news with #CommercialCrimeInvestigationDepartment
The Star
2 days ago
- Business
- The Star
Businessman loses RM1.5mil to online investment scam
SEREMBAN: Another victim has fallen prey to a non-existent online investment scam, losing nearly RM1.5mil after being promised unusually high returns. Nilai OCPD Supt Abdul Malik Hasim said the victim, a businessman in his 50s, lodged a report on Monday (July 21) after realising that he had been duped. "The victim, in his report, said that he had been contacted by an individual in late April asking if he was keen to invest in an online investment scheme. "The victim, after being told that the returns were unusually high, agreed to download an application on his mobile phone so he could invest," he said in a statement. Supt Abdul Malik said the victim then transferred the cash into seven bank accounts through 15 transactions. He said the victim only realised that he had been conned when he was unable to withdraw his profits. "He was told that he would have to make additional payments if he wished to do so," he said, adding that the victim lodged a report at the Pantai station. The case is being investigated under Section 420 of the Penal Code for cheating. He advised the public to always check with official sources such as Bank Negara before investing in any scheme, especially those that promise unusually high returns. The public can also call the Commercial Crime Investigation Department Scam Response Centre at 03-2610 1559 or 03-2610 1599, he added.
The Star
4 days ago
- Business
- The Star
Manager loses over RM260k in WhatsApp stock scam
JOHOR BARU: A company manager lost RM262,669, supposedly after falling victim to an online stock investment scam conducted through WhatsApp. Seri Alam police chief Supt Mohd Sohaimi Ishak said the police received a report on the incident yesterday after the 39-year-old victim realised he had been cheated. 'The victim said the incident began last April when he came across a stock investment advertisement on WhatsApp that promised lucrative returns within a short period,' he said in a statement, Bernama reported. 'The victim made 16 transactions into two different bank accounts between April 25 and July 4, amounting to a total of RM262,669.' He said the victim was later asked to make an additional payment purportedly for the withdrawal of investment profits, but no returns were received. He added that the victim realised he had been scammed after his efforts to recover the investment money failed. 'Initial investigations using the Semak Mule platform by the Commercial Crime Investigation Department (CCID) found that one of the bank accounts used in the transactions had a prior police report linked to an investment fraud case,' he said. The police will also carry out additional investigations into the use of mule accounts and take appropriate action against the involved account holders. Supt Mohd Sohaimi urged the public to exercise caution with investment schemes that promise high returns in a short time and to verify the legitimacy of companies through the Securities Commission Malaysia and the Semak Mule portal before making any transactions. The public is also warned against sharing personal or banking information with unknown parties and to stay informed about commercial crime tactics via CCID's social media channels.
New Straits Times
4 days ago
- New Straits Times
Man with disability scammed RM523,350 in online job fraud
GEORGE TOWN: A 45-year-old man with disability who works as a cake maker at a local bakery here has fallen victim to an online job scam, losing a total of RM523,350. The Commercial Crime Investigation Department of the northeast district police headquarters is investigating the case under Section 420 of the Penal Code for cheating. Acting police chief Datuk Mohd Alwi Zainal Abidin said the victim received a WhatsApp message from an unknown number in early December last year and became acquainted with a woman who offered him a job selling children's toys via TikTok. He said the victim was promised profits of 10 to 15 per cent. "The victim agreed and was asked to pay upfront for goods ordered by customers. "Between Dec 18, last year and July 14 this year, he made 41 money transfers totalling RM523,350 from his account to five different bank accounts via cash deposit machines (CDM). "However, he did not receive any profits and was repeatedly asked for additional payments," he said in a statement today.
Malay Mail
4 days ago
- Malay Mail
Promises of quick profit cost Johor man RM301,000 in stock scam
JOHOR BAHRU, July 19 — An elderly e-hailing driver lost RM301,300 after falling victim to an online scheme that promised quick and lucrative returns through investments in foreign stocks. Seri Alam police chief Supt Mohd Sohaimi Ishak said the 67-year-old victim was first introduced to the fraudulent scheme in April by a woman he had just met. 'Believing the woman's promises, the victim made 11 transfers to four different bank accounts, amounting to RM301,300,' he said in a statement. However, he never received any returns. Instead, he was repeatedly asked to make additional payments, supposedly to facilitate the release of his profits. Realising he had been scammed when he could no longer reach the woman and failed to recover his investment, the victim lodged a police report on Monday. Mohd Sohaimi said preliminary checks using the Semak Mule platform by the Commercial Crime Investigation Department revealed that three of the bank accounts involved had been flagged in 27 previous police reports linked to investment scams. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a maximum sentence of 10 years' imprisonment, caning and a fine upon conviction. He added that investigators are also looking into the existence of mule accounts under Section 424 of the Penal Code, which covers the use of accounts or payment instruments for criminal purposes. 'Upon conviction under Section 424, offenders face a fine of between RM10,000 and RM150,000 or imprisonment of three to 10 years,' he said. He advised the public to be wary of online investment schemes promising quick and high returns, especially those that appear overly easy or risk-free. 'The public is also urged to verify any investment opportunity with relevant authorities such as the Royal Malaysia Police, Bank Negara Malaysia, or the Securities Commission to ensure its legitimacy,' he added. — Bernama
The Sun
4 days ago
- The Sun
Elderly e-hailing driver loses RM301,300 in online investment scam
JOHOR BAHRU: An elderly e-hailing driver lost RM301,300 after falling victim to an online scheme that promised quick and lucrative returns through investments in foreign stocks. Seri Alam police chief Supt Mohd Sohaimi Ishak said the 67-year-old victim was first introduced to the fraudulent scheme in April by a woman he had just met. 'Believing the woman's promises, the victim made 11 transfers to four different bank accounts, amounting to RM301,300,' he said in a statement. However, he never received any returns. Instead, he was repeatedly asked to make additional payments, supposedly to facilitate the release of his profits. Realising he had been scammed when he could no longer reach the woman and failed to recover his investment, the victim lodged a police report on Monday. Mohd Sohaimi said preliminary checks using the Semak Mule platform by the Commercial Crime Investigation Department revealed that three of the bank accounts involved had been flagged in 27 previous police reports linked to investment scams. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a maximum sentence of 10 years' imprisonment, caning and a fine upon conviction. He added that investigators are also looking into the existence of mule accounts under Section 424 of the Penal Code, which covers the use of accounts or payment instruments for criminal purposes. 'Upon conviction under Section 424, offenders face a fine of between RM10,000 and RM150,000 or imprisonment of three to 10 years,' he said. He advised the public to be wary of online investment schemes promising quick and high returns, especially those that appear overly easy or risk-free. 'The public is also urged to verify any investment opportunity with relevant authorities such as the Royal Malaysia Police, Bank Negara Malaysia, or the Securities Commission to ensure its legitimacy,' he added. - Bernama
