Three individuals, including a man and two women who are locals, have collectively lost RM1.9 million in a fraudulent foreign exchange (forex) investment scheme. According to Johor police chief Comm Datuk Kamarul Zaman Mamat, the syndicate responsible for the scam is believed to be operating overseas. The victims encountered the investment opportunity on social media and decided to invest after being promised significant returns and a guarantee on their principal investment. They trusted the legitimacy of the investment after communicating with the organizer through a Zoom app. Later, all victims made payments ranging from RM437,253 to RM864,303 via a trading app, only to realize they had been deceived.
In a separate case, a woman lost more than RM299,000 in a cryptocurrency scheme. She was also lured by an investment offer on social media, promising high returns within a short period. The victim deposited RM299,373 into seven different bank accounts between July 21 and September 1. Eventually, she realized that the promised profits were non-existent when attempts to withdraw them failed.
These two cases are part of 13 reports filed by scam victims between November 1 and November 5, amounting to a total loss of RM3.3 million. These cases are now being investigated under Section 420 of the Penal Code for cheating.
Comm Kamarul Zaman emphasized the need for caution and critical evaluation when it comes to investment opportunities. He advised the public to conduct thorough checks of any investment offers to prevent falling victim to scams that promise quick and substantial returns. Comm Kamarul Zaman also urged individuals to stay updated with the latest information on scams through the police Commercial Crime Investigation Department’s social media platforms, including Facebook, Instagram, and TikTok.
Additionally, he encouraged scam victims to promptly contact the National Scam Response Centre (NSRC) at 997 to halt the movement of funds from the suspects’ accounts. It is essential to take immediate action to prevent further financial loss.
