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Elderly man in Sibu loses RM800,000 to fake online investment scheme

Elderly man in Sibu loses RM800,000 to fake online investment scheme

Borneo Post21-07-2025
Photo for illustration purposes only. — Photo from Pixabay
SIBU (July 21): A former trader in his 70s lost nearly RM800,000 to a non-existent stock investment scheme after ignoring warnings from his family, according to Sarawak Police Commissioner Datuk Mancha Ata.
Mancha said the incident began in mid-June when the victim came across an online investment offer for 'GVD Coins' while browsing Facebook.
'The victim, who was enticed by the scheme, asked his family members to prepare a certain amount of money for the investment.
'His family members advised the victim not to easily trust in investments offered online but he ignored their advice.
'In this case, the victim carried out several monetary transactions in stages into the bank account provided by the suspect amounting to about RM800,000,' he said in a statement.
Realising he had been scammed after failing to receive any returns, the victim lodged a police report.
Mancha cautioned the public against falling for online investment schemes that promise high returns in a short time, stressing that these are often too good to be true.
'The people are also encouraged to check the list of approved investment companies or websites at the Bank Negara Malaysia (BNM) website www.bnm.gov.my or BNM Telelink 1-300-88-5465 or www.sc.com.my for the Securities Commission.
'Individuals who suspect they have fallen victim to cybercrime including phone scams, love scams, e-commerce fraud, or bogus loans should immediately contact the National Scam Response Center (NSRC) at 997 if they have just completed a fund transfer to the scammer's account or e-wallet,' he said.
The police also recommended additional tools and platforms, such as the Whoscall mobile application, Investment Checker via https://www.sc.com.my/investment-checker; or Check Scammers CCID app or the website http://semakmule.rmp.gov.my for verifying suspect phone numbers or bank accounts. crime elderly investment scam Mancha Ata
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