JOHOR BARU: A retiree has suffered significant financial losses after investing more than RM650,000 of his savings in a bogus investment scheme.
Johor Baru North OCPD Asst Comm Balveer Singh said the 73-year-old local male victim lodged a police report on Tuesday (Aug 6).
"The victim claims that on June 26, at around 10.02am, he received a message on WhatsApp from an unknown individual who provided a link to an investment scheme, promising returns of up to 90% from the invested capital.
"He was attracted by the promise of profits and made nine transactions to five different bank accounts given to him between July 2 and 30, amounting to a total of RM655,109," he said here on Wednesday (Aug 7).
ACP Balveer added that the victim only realised he had been scammed after failing to withdraw his profit through the link provided.
"The suspect told him that the account had been blocked," he said, adding that the case is being investigated under Section 420 of the Penal Code for cheating.
He also said investigations would cover whether any mule accounts were used in the scam, with actions to be taken against the account owners.
ACP Balveer urged the public to be more vigilant and aware of the latest tactics used by scammers to cheat their victims.
He advised the public not to easily believe in any investment or online employment offers that promise high returns.
"The police Commercial Crime Investigation Department has provided many channels to the public such as Semak Mule, CCID scam response centre at 03-2610 1559, the National Scam Response Centre (NSRC) at 997, as well as the department's Facebook page.
"The public should use these channels to get information pertaining to commercial crime before making online transaction payments to a third party," he said.
