Latest news with #Raiz
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.
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Raiz user growth surges as managed funds rocket past $1.8 billion
Micro-investing platform Raiz Invest has wrapped up a stellar fourth quarter 2025, clocking record growth across customer numbers and boosting funds under management (FUM) to more than $1.8 billion, with its Super and Kids portfolios leading the charge. While Raiz runs a classic investment fund behind the scenes, the way it fills the piggy bank is anything but old-school. The company's simple, app-based platform lets users round up their daily spending - whether for a coffee, or a cab fare - to the nearest $1, $2 or $3. The spare change is automatically whisked into their investment account, one tap at a time. The company's active fee-paying customer numbers are now up 7.3 per cent year-on-year to 329,277 users, with an additional 4309 net new users joining the platform in the fourth quarter alone. The momentum continued into July, with customer numbers already surging to 333,233. Annualised revenue per user also jumped 6.9 per cent to $77.20, driven by a strong uptake of higher-margin products such as its Raiz Plus, Raiz Super and Raiz Rewards platforms. 'The business fundamentals remain solid and all core metrics are trending positively.' Raiz Invest managing director and chief executive officer Brendan Malone Funds under management smashed through the $1.8 billion mark to hit $1.82 billion at the end of the quarter, up 30.4 per cent year-on-year and 10.3 per cent for the quarter. The rally was powered by $45.8 million in net inflows and a $125 million boost from market movements. Management says the business is still gathering pace, with total funds under management hitting $1.88 billion by the close of business yesterday and a suite of new products and features already primed for launch in the first quarter of the new financial year. While the key metrics continue to shine brightly, Raiz says breakout growth in specific products has caught the market's eye. Raiz Super customers soared 20.8 per cent over the past year to 13,965 users, with Super funds under management jumping 34.4 per cent to $387.6 million. Its Kids portfolios also went gangbusters, growing 45 per cent to 54,961 accounts, with funds under management skyrocketing 80.8 per cent to $79.4 million.
The Age
4 days ago
- Business
- The Age
Raiz user growth surges as managed funds rocket past $1.8 billion
Micro-investing platform Raiz Invest has wrapped up a stellar fourth quarter 2025, clocking record growth across customer numbers and boosting funds under management (FUM) to more than $1.8 billion, with its Super and Kids portfolios leading the charge. While Raiz runs a classic investment fund behind the scenes, the way it fills the piggy bank is anything but old-school. The company's simple, app-based platform lets users round up their daily spending - whether for a coffee, or a cab fare - to the nearest $1, $2 or $3. The spare change is automatically whisked into their investment account, one tap at a time. The company's active fee-paying customer numbers are now up 7.3 per cent year-on-year to 329,277 users, with an additional 4309 net new users joining the platform in the fourth quarter alone. The momentum continued into July, with customer numbers already surging to 333,233. Annualised revenue per user also jumped 6.9 per cent to $77.20, driven by a strong uptake of higher-margin products such as its Raiz Plus, Raiz Super and Raiz Rewards platforms. 'The business fundamentals remain solid and all core metrics are trending positively.' Raiz Invest managing director and chief executive officer Brendan Malone Funds under management smashed through the $1.8 billion mark to hit $1.82 billion at the end of the quarter, up 30.4 per cent year-on-year and 10.3 per cent for the quarter. The rally was powered by $45.8 million in net inflows and a $125 million boost from market movements. Management says the business is still gathering pace, with total funds under management hitting $1.88 billion by the close of business yesterday and a suite of new products and features already primed for launch in the first quarter of the new financial year. While the key metrics continue to shine brightly, Raiz says breakout growth in specific products has caught the market's eye. Raiz Super customers soared 20.8 per cent over the past year to 13,965 users, with Super funds under management jumping 34.4 per cent to $387.6 million. Its Kids portfolios also went gangbusters, growing 45 per cent to 54,961 accounts, with funds under management skyrocketing 80.8 per cent to $79.4 million.
West Australian
4 days ago
- Business
- West Australian
Raiz user growth surges as managed funds rocket past $1.8 billion
Micro-investing platform Raiz Invest has wrapped up a stellar fourth quarter 2025, clocking record growth across customer numbers and boosting funds under management (FUM) to more than $1.8 billion, with its Super and Kids portfolios leading the charge. While Raiz runs a classic investment fund behind the scenes, the way it fills the piggy bank is anything but old-school. The company's simple, app-based platform lets users round up their daily spending - whether for a coffee, or a cab fare - to the nearest $1, $2 or $3. The spare change is automatically whisked into their investment account, one tap at a time. The company's active fee-paying customer numbers are now up 7.3 per cent year-on-year to 329,277 users, with an additional 4309 net new users joining the platform in the fourth quarter alone. The momentum continued into July, with customer numbers already surging to 333,233. Annualised revenue per user also jumped 6.9 per cent to $77.20, driven by a strong uptake of higher-margin products such as its Raiz Plus, Raiz Super and Raiz Rewards platforms. Funds under management smashed through the $1.8 billion mark to hit $1.82 billion at the end of the quarter, up 30.4 per cent year-on-year and 10.3 per cent for the quarter. The rally was powered by $45.8 million in net inflows and a $125 million boost from market movements. Management says the business is still gathering pace, with total funds under management hitting $1.88 billion by the close of business yesterday and a suite of new products and features already primed for launch in the first quarter of the new financial year. While the key metrics continue to shine brightly, Raiz says breakout growth in specific products has caught the market's eye. Raiz Super customers soared 20.8 per cent over the past year to 13,965 users, with Super funds under management jumping 34.4 per cent to $387.6 million. Its Kids portfolios also went gangbusters, growing 45 per cent to 54,961 accounts, with funds under management skyrocketing 80.8 per cent to $79.4 million. The company's Plus portfolios weren't far behind, with a 42.2 per cent year-on-year surge in accounts and a 67.4 per cent leap in funds under management to $296.7 million. Notably, average account balances are also on the up, increasing 21.5 per cent over the year to $5530. As part of its drive to engage younger investors, Raiz recently struck a strategic deal to take on a portfolio sitting under the Drip Invest banner. Drip is an educational investing app aimed at kids and teens and is currently managed by Cache Invest. Raiz says the partnership - due to go live in the second week of August - gives the company direct access to Drip's customer base and marketing channels, thereby amplifying its footprint in the youth investor segment. In efforts to boost its overall marketing arsenal, Raiz is also doubling down on its tech edge by pumping more resources into smarter systems and data capabilities. By rolling out AI tools to generate hyper-personalised campaigns, the company says it has been able to lift its conversion and retention rates. With an eye on the future, it is also chasing M&A opportunities to supercharge its expansion. Raiz's efforts haven't gone unnoticed. The platform was recently named one of CNBC World's Top Fintech Companies for 2025 and became a finalist at the Fintech Australia 'Finnies' awards for Excellence in Wealth Management. The company also took top spot in the Finder customer satisfaction awards and snagged the WeMoney award for its popular round-up investing feature. With consistent growth, glowing peer reviews and $13 million in the bank - up 4 per cent from the last quarter - Raiz has set the standard for micro-investing in Australia and appears poised to make 2026 its biggest year yet. Is your ASX-listed company doing something interesting? Contact:
Sinar Daily
21-07-2025
- Sinar Daily
Swim, search, scam: The viral vanishing of motoring influencer, explained
SHAH ALAM - What began as a dramatic missing person case, complete with a sunken car, tearful pleas and a four-day search, turned out to be nothing more than a calculated escape plan. The 38-year-old automotive influencer is believed to have staged his own disappearance by abandoning his wife's car in a river and fleeing to Thailand; reportedly to remarry. Authorities, friends, and the public are now left angry and betrayed. Here is the full breakdown of the bizarre saga. July 15: The 'Accident' That Sparked a State-Wide Search On the afternoon of July 15, firefighters in Pagoh, Johor, responded to a call about a car submerged about two meters deep in Sungai Tui, near an oil palm estate in Bukit Kepong. The vehicle, a Perodua Axia, belonged to the 'victim's' wife. His 30-year-old younger brother reported him missing at the Lenga Police Station, claiming that the latter had last said he was heading to a friend's workshop in Parit Jawa to fix the car. 'We left Johor Bahru in separate vehicles. I went to a different place, while my brother told me he wanted to go to his friend's workshop. My family last heard from him around 4pm, but after that, they could not reach him. 'At first, we thought he was joking as usual, but started to get worried when we could not reach him and the vehicle was found not far from where we last met,' the younger brother reportedly said. Authorities launched a Search and Rescue (SAR) operation that mobilised 77 personnel across various agencies: police, marine units, the Fire and Rescue Department (including a diving team) and a drone unit. The team scoured land, air and water in a multi-kilometre radius around the river. July 18: Search Called Off, Doubts Begin to Emerge After four days of extensive searching with no trace of the supposed victim, police called off the SAR operation. The Incident Command Post (PKTK) was shut down and suspicions began to surface. 'We have completed a thorough search. We are now expanding the search beyond the initial zone, as new factors are coming to light,' Muar district police chief ACP Raiz Mukhliz Azman Aziz said. Those new factors soon proved damning. July 19: Staged Disappearance Confirmed Police revealed the so-called accident was a complete fabrication. The man had allegedly driven his wife's car into the river, exited safely and fled the country, with the help of his brother. His brother's police report, it turned out, was a lie to mislead authorities. 'Investigations found elements of deception. The victim's brother admitted to conspiring and pretending to search in order to mislead police,' Raiz said. By this time, the influencer had already crossed into Thailand, where he allegedly remarried. The case is now being investigated under: Section 182 of the Penal Code – giving false information to a public servant Section 109 – abetment The penalties include up to six months' imprisonment, a RM2,000 fine or both. July 19: Influencer Turns Himself In After a week of speculation, the man surrendered himself at the Muar Police Station. The investigation continues, with statements taken from both brothers. Police are awaiting the green light from the Deputy Public Prosecutor to proceed further. 'An investigation paper has been opened involving false reports, untruthful statements, and conspiracy. 'Filing a false report is a serious offence that drains valuable resources and disrupts emergency operations,' Raiz emphasised. July 20: Friends Feel Betrayed: 'We Prayed, We Searched' The backlash from friends and the public was swift and harsh. Muhammad Syahmi Mansur, a 30-year-old friend who joined the search effort, pointed out that more than 20 of the 'victim's' friends came from different places. 'Some took leave from work. We were really worried. Now people know me as the guy who swam in the river. I am embarrassed to even leave my house. 'We even considered going to a traditional healer. My family held prayer sessions. But all this time, he was safe in another country,' Syahmi said. A friend of the missing man, Muhammad Syahmi Mansur, shows a photo of the 'victim' on his mobile phone. Bernama FILE PIX Another close friend, Qaqal Jeffry, posted a lengthy and emotional Facebook message. 'I have known him for more than 10 years. I was worried sick, called in from work and rushed to the scene. It hit me hard because it happened in our village. 'The car was suspicious, no damage, windows down, gear in 'L'. The AirTag was found on a bridge. That does not happen by accident. That was deliberate. 'Even if it was about debt or wanting to remarry, I will not judge. But to deceive everyone like this? To use people's emotions and the authorities' time? It is not right,' Qaqal wrote. Qaqal also revealed that the police tracked the man's ATM withdrawals and passport records, confirming he had crossed into Thailand just a day after the police report was filed. His brother had allegedly helped him escape by driving him to a bus terminal. While his motive was not confirmed publicly, speculation centres around personal issues, including financial stress or marital decisions, possibly even a desire to marry someone else in Thailand. But his friends believe no motive could justify the emotional and social damage caused. 'Just imagine how many people were affected. Family, friends, the public. He may have had his reasons, but it does not make it okay,' Qaqal stressed. What now? As of July 20, both brothers remain under investigation. The police have reiterated that false reports will not be tolerated. 'Firm action will be taken against anyone who misuses the police reporting system for personal gain,' Raiz emphasised.
