Latest news with #RM488
New Straits Times
3 days ago
- New Straits Times
Muar man falls for RM6mil online trading trap, loses RM488,740
MUAR: Lured by promises of sky-high returns, a 46-year-old furniture factory worker lost nearly half a million ringgit after falling victim to a bogus online stock investment scam, run through a fake mobile app. District police chief Assistant Commissioner Raiz Mukhliz Azman Aziz said the victim lodged a report yesterday, claiming losses of RM488,740 following a series of transactions over the past two months. The scam began when the man clicked on a stock investment advert on social media and was later contacted via WhatsApp by an unknown individual who instructed him to download an app called 'PHG Plus'. "The app promised weekly returns of 50 per cent and up to 500 per cent in six months," Raiz said in a statement today. Convinced the scheme was legit, the victim made 39 cash transfers between May 21 and July 21 to six different bank accounts, totalling RM488,740. However, when he tried to withdraw his supposed profits — which the app claimed had grown to over RM6 million — he was told to pay an additional RM600,000 in 'income tax' to access the funds. It was then that he realised he had been scammed. The case is being investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years, whipping, and a fine upon conviction. Raiz urged the public to be wary of investment schemes offering unrealistic returns, and to verify such offers via official police social media platforms, including Facebook, Instagram, and TikTok.
The Sun
3 days ago
- Business
- The Sun
Factory worker loses RM500k in online investment scam in Muar
MUAR: A 46-year-old factory worker lost nearly RM500,000 after falling victim to an online investment scam promising unrealistically high returns. The victim, who lodged a police report yesterday, was lured by an advertisement on social media in early May. Muar police chief ACP Raiz Mukhliz Azman Aziz said the victim clicked on a link and was later contacted via WhatsApp by an unknown individual. The scammer instructed him to download an app called 'PHG PLUS,' which guaranteed returns of 50% within a week and 500% in six months. 'Believing the promises, the victim deposited a total of RM488,740 into six different accounts through 39 transactions between May 21 and July 21, 2025,' Raiz Mukhliz said in a statement. The victim only realised he had been cheated when he tried to withdraw what was supposedly RM6 million in profits. He was then asked to pay an additional RM600,000 for 'income tax' before any withdrawal could be processed. The case is now being investigated under Section 420 of the Penal Code for cheating. Authorities urge the public to be cautious of online investment schemes offering unusually high returns. – Bernama
The Star
3 days ago
- Business
- The Star
Muar man loses nearly RM500K to investment scam
MUAR: A man here was duped into losing almost half a million ringgit in a bogus online investment scheme promising high returns within months. Muar OCPD Asst Comm Raiz Mukhliz Azman Aziz said the 46-year-old victim lodged a police report on Monday (July 28) after realising he had been scammed out of RM488,740 over two months. 'The victim came across an investment advertisement on social media and clicked on a link which directed him to communicate with an unknown individual via WhatsApp. 'The victim was then instructed to download a mobile application called 'PHG Plus', allegedly for investment purposes,' he said here on Tuesday (July 29). ACP Raiz Mukhliz added that the victim, who works at a furniture factory here, was promised an attractive return of 50% within a week and up to 500% in six months. He said between May 21 and July 21, the victim made 39 transactions totalling RM488,740 into six different bank accounts provided by the suspect. 'However, when he tried to withdraw his so-called profits, which appeared to have reached over RM6mil in the app, he was told to first pay an additional RM600,000 as 'income tax'. 'It was at that point that the victim realised he had been cheated,' he said, adding that the case was being investigated under Section 420 of the Penal Code for cheating. ACP Raiz Mukhliz urged the public to be vigilant against online investment scams that promise unrealistic returns within a short period. 'Always verify with official sources before making any financial commitments. 'Please follow the Royal Malaysia Police Commercial Crime Investigation Department's social media accounts on Facebook, Instagram and TikTok for updates on the latest scam tactics,' he added.
The Star
18-07-2025
- Automotive
- The Star
AI is making sure you pay for that ding on your rental car
The next time you rent a car, that ding on the door might not slip under the radar. Powerful new AI-driven tools are helping Hertz and other companies catch every little scratch, and puzzled renters are being asked to pay up. Hertz, one of the world's largest car rental companies, debuted the technology last fall at Hartsfield-Jackson Atlanta International Airport, and it's now in use at five other US airports, said Emily Spencer, a Hertz spokesperson. Developed by a company called UVeye, the scanning system works by capturing thousands of high-resolution images from all angles as a vehicle passes through a rental lot's gates at pickup and return. Artificial intelligence then compares those images and flags any discrepancies. The system automatically creates and sends damage reports, Spencer said. An employee reviews the report only if a customer flags an issue after receiving the bill. She added that fewer than 3% of vehicles scanned by the AI system show any billable damage. Still, unexpected charges for damage that's barely visible to the naked eye are leaving renters wondering what's going on. 'It could have been a shadow' Kelly Rogers and her husband rented a car from Hertz at the Atlanta airport over the July 4 weekend to travel to a family wedding in Birmingham, Alabama. The couple, who live in Scarsdale, New York, booked a minivan to shuttle family around, and the drive in both directions was uneventful, they said. When they returned the car in Atlanta, they inspected it and saw no damage. A Hertz employee inspected the vehicle upon its return as well, they said, and did not flag any damage. But once the couple had passed through airport security, they received a notification via the Hertz app that its automated system had detected a dent in the passenger-side front door. They were charged US$195 (RM 827) : US$80 (RM339) for the damage and US$115 (RM488) in fees, including those incurred 'as a result of processing' the damage claim and the 'cost to detect and estimate the damage' that occurred during the rental. Hertz offered to reduce the charge to US$130 (RM551) if they paid within one day. An image from a car scanner shows the passenger-side front door of a minivan, as she returned it in Atlanta, with a spot Hertz claimed was a dent highlighted in red. As Hertz rolls out AI-powered scanners that generate damage reports and fees, unexpected charges for damage barely visible to the naked eye are leaving some renters wondering what's going on. — Kelly Rogers via The New York Times Rogers said the charge was inexplicable. 'It could have been a shadow,' she said in a phone interview. 'We were pulling it up on the app, and we're like, 'This is so bananas'.' The couple has been in touch with customer service and is seeking to have the fee dismissed. Spencer said the incident was reviewed and confirmed as a new dent. What the eye doesn't see UVeye, which makes Hertz's scanners, says on its website that its technology can 'detect 5X more damage than manual checks' and generate '6X higher total value of damage captured'. Yaron Saghiv, the company's chief marketing officer, said in an email that its technology 'removes the need for manual walkarounds, increases vehicle safety, and ensures a reliable, objective record of vehicle condition'. Spencer, the Hertz spokesperson, said the company uses the scanners to make sure customers 'are not charged for damage that didn't occur during their rental, while bringing greater transparency, precision and speed to the process when new damage is detected'. As for the fees tacked on to the Rogers family's bill, Spencer said that damage fees 'are all incident-specific' and that they are calculated using multiple variables including 'the costs that are incurred, identifying and quantifying the damage, and administering the claim'. Hertz and its subsidiaries, Dollar and Thrifty, are using the technology at Newark Liberty International Airport, Charlotte Douglas International Airport, Phoenix Sky Harbor International Airport, Tampa International Airport and George Bush Intercontinental Airport in Houston, as well as in Atlanta, Spencer said. Hertz plans to expand the technology to other 'major airport locations' this year, Spencer said, but did not specify how many or where. Sixt, another major rental car company, uses a different AI-supported tool called Car Gate, a scanner that relies on 'built-in sensors, cameras and a lighting system' to check for damage, according to the company's website. 'As part of the quality assurance, the photos are checked and verified,' the website says. Sixt did not respond to multiple requests for comment. A spokesperson for Enterprise Mobility, which owns Enterprise, National and Alamo, said the company does not use AI in its damage review process. Avis Budget Group, which includes the brands Avis, Budget and Payless, as well as the car-sharing company Zipcar, was reportedly testing AI damage scanning technology as early as 2019, but the company said via email that its damage assessment process 'remains human-led'. It added, 'While certain technologies, including AI, may be used to support internal efficiencies, they do not replace the judgment or involvement of our employees.' – ©2025 The New York Times Company This article originally appeared in The New York Times.
CNA
21-04-2025
- Business
- CNA
Malaysia's oldest horse racing club to close, last race could be on May 31
At the first special general meeting last year, club members had voted to sell its land in Batu Gantung in a motion that was supported by 146 members, with only three members opposing. The club then launched an open tender to sell the prime land. But the exercise, which closed in December last year, did not draw any bids that qualified. The club has been looking for alternative ways to realise the land's value, estimated at RM6 billion (US$1.4 billion), for commercial use, according to Free Malaysia Today. Its next option is likely to divide the land into smaller parcels for separate sale, a move that could attract a bigger pool of potential buyers, The Star reported. The Penang Turf Club has occupied the Batu Gantung site, next to the upscale Taman Jesselton Heights, since 1939. It moved from its first race course on Macalister Road, also in George Town, which originated from a free land grant. Its first buildings on Macalister Road were made of wood and attap. In 2011, the club sold about 23 hectares of its 104-hectare site to Berjaya Land Bhd for RM459 million (US$104 million) to develop a low-density housing project, Malay Mail reported. In 2002, the club had agreed to sell the entire Batu Gantung site to developer Abad Naluri Sdn Bhd for RM488 million. The developer had planned to build the Penang Global City Centre, a RM25 billion (US$5.6 billion) mixed-use project incorporating shopping malls, hotels, residences, offices and a cultural centre that was touted as a game changer for Penang. However, public protests and Abad Naluri's failure to meet some requirements led to the project being rejected in 2008. The project was widely said to be behind the fall of the Gerakan party in Penang, local media reported. Currently an opposition party, Gerakan once dominated the state legislature.
