JOHOR BARU: A 52-year-old man has lost RM87,479 after falling for an online investment scam that he came across on WhatsApp.
Johor Baru North OCPD Asst Comm Balveer Singh said the incident started on Aug 12 when the man received a WhatsApp link from a company representative named "Mandy”.
He added that the individual also claimed to be associated with Boci Club members, using the contact number 014-7381527.
“Mandy offered an investment opportunity in an initial public offering (IPO) of shares, promising a return of 80% on the invested capital.
“Enticed by the lucrative returns, the victim agreed to invest, making two transactions to different bank accounts provided by the scammers,” he said in a statement on Monday (Oct 21).
ACP Balveer added that the transactions took place between Sept 13 and Oct 15, totalling RM87,900. Despite his investments, the victim only received a return of RM421.
“The scam was uncovered when the victim was asked to make an additional payment of RM15,000 to withdraw the promised profit.
“Realising that he had been deceived, the victim reported the incident to the authorities, with the estimated loss totalling RM87,479,” he said, adding that the victim lodged a report on Sunday (Oct 20).
The case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of up to 10 years in prison, whipping, and fines upon conviction.
The investigation will also explore the involvement of mule accounts and action will be taken against the account holders involved, he added.
ACP Balveer also advised the public to be vigilant and stay informed about current commercial crime trends to avoid falling victim to scams.
“Do not trust any online investment or job offers that promise easy methods and high commissions,” he added.
Members of the public are also encouraged to use online services provided by the Commercial Crime Investigation Department, such as "Semak Mule," the CCID Scam Response Centre (03-26101559 / 03-26101599), the CCID Infoline, the official Facebook pages of JSJK PDRM and BSJK PDRM, and the National Scam Response Centre (997), to verify any information related to commercial crimes before making any payments.
