By Mohamed Farid Noh
PASIR GUDANG: An engineer lost RM178,200 after falling victim to an online stock investment scam that promised high returns via WhatsApp.
Seri Alam district police chief Assistant Commissioner Mohd Sohaimi Ishak said the 33-year-old female victim lodged a police report yesterday, saying that an investment syndicate had scammed her since March.
"The victim was initially attracted after seeing a stock investment advertisement on the Telegram app and followed a provided link.
She was promised high profits in a short time.
The victim then made 19 transactions into three different bank accounts from March to July, involving a total amount of RM178,200," he said in a statement.
Sohaimi added that the victim only realised she had been scammed when she was asked to make additional payments to withdraw her capital and profits.
Initial police investigations found that all the bank accounts involved had 21 prior police reports related to investment fraud.
The case is being investigated under Section 420 of the Penal Code for cheating, and also involves the use of mule accounts.
"The police advise the public not to be easily deceived by any investment schemes that promise high returns.
"Always be cautious and verify the legitimacy of any company or individual offering investments before making any payments.
"The public should check with the Securities Commission Malaysia, avoid trusting promises of quick riches, and use the Semak Mule portal to verify suspicious accounts before any transactions,".