Latest news with #RM262
The Star
4 days ago
- Business
- The Star
Manager loses over RM260k in WhatsApp stock scam
JOHOR BARU: A company manager lost RM262,669, supposedly after falling victim to an online stock investment scam conducted through WhatsApp. Seri Alam police chief Supt Mohd Sohaimi Ishak said the police received a report on the incident yesterday after the 39-year-old victim realised he had been cheated. 'The victim said the incident began last April when he came across a stock investment advertisement on WhatsApp that promised lucrative returns within a short period,' he said in a statement, Bernama reported. 'The victim made 16 transactions into two different bank accounts between April 25 and July 4, amounting to a total of RM262,669.' He said the victim was later asked to make an additional payment purportedly for the withdrawal of investment profits, but no returns were received. He added that the victim realised he had been scammed after his efforts to recover the investment money failed. 'Initial investigations using the Semak Mule platform by the Commercial Crime Investigation Department (CCID) found that one of the bank accounts used in the transactions had a prior police report linked to an investment fraud case,' he said. The police will also carry out additional investigations into the use of mule accounts and take appropriate action against the involved account holders. Supt Mohd Sohaimi urged the public to exercise caution with investment schemes that promise high returns in a short time and to verify the legitimacy of companies through the Securities Commission Malaysia and the Semak Mule portal before making any transactions. The public is also warned against sharing personal or banking information with unknown parties and to stay informed about commercial crime tactics via CCID's social media channels.
The Sun
5 days ago
- Business
- The Sun
Johor manager loses RM260k in WhatsApp investment scam
JOHOR BAHRU: A company manager lost RM262,669 after falling victim to a WhatsApp-based stock investment scam. The 39-year-old victim reported the fraud to Seri Alam police after realising he had been deceived. Seri Alam police chief Supt Mohd Sohaimi Ishak said the scam began in April when the victim saw an investment ad on WhatsApp promising quick profits. 'The victim made 16 transactions into two bank accounts between April 25 and July 4, totalling RM262,669,' he said. The scam escalated when the victim was asked for additional payments to withdraw profits, but no returns were given. After failed attempts to recover his money, he lodged a police report. Initial checks by the Commercial Crime Investigation Department (CCID) revealed one bank account was linked to a prior investment fraud case. Investigations are ongoing under Section 420 of the Penal Code for fraud. Mohd Sohaimi urged the public to verify investment schemes via the Securities Commission Malaysia and Semak Mule portal. 'Be wary of unrealistic returns and never share banking details,' he said. Victims of fraud should contact the National Scam Response Centre (NSRC) at 997 immediately to halt transactions. - Bernama
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Company manager loses over RM260,000 to WhatsApp investment scam
JOHOR BAHRU — A company manager lost RM262,669 after allegedly falling victim to an online stock investment scam conducted through the WhatsApp application. Seri Alam police chief Supt Mohd Sohaimi Ishak said the police received a report on the incident yesterday after the 39-year-old victim realised he had been cheated. 'The victim said the incident began last April when he came across a stock investment advertisement on WhatsApp that promised lucrative returns within a short period,' he said. 'Interested, the victim made 16 transactions into two different bank accounts between April 25 and July 4, amounting to a total of RM262,669,' he said in a statement. Mohd Sohaimi said the victim was later asked to make an additional payment purportedly for the withdrawal of investment profits, but no returns were received. He said the victim realised he had been scammed after all efforts to recover the investment money failed. 'Initial investigations using the Semak Mule platform by the Commercial Crime Investigation Department (CCID) found that one of the bank accounts used in the transactions had a prior police report linked to an investment fraud case,' he said. The case is being investigated under Section 420 of the Penal Code for fraud. Police will also conduct further investigations into the use of mule accounts, with appropriate action to be taken against the account holders involved. He urged the public to exercise caution with investment schemes that promise high returns in a short time and to verify the legitimacy of companies through the Securities Commission Malaysia and the Semak Mule portal before making any transactions. The public is also warned against sharing personal or banking information with unknown parties and to stay informed about commercial crime tactics via CCID's official social media channels. Fraud victims are urged to immediately contact the National Scam Response Centre (NSRC) at 997 to block any fund transfers. — BERNAMA
Barnama
5 days ago
- Business
- Barnama
Company Manager Loses Over RM260,000 To WhatsApp Investment Scam
JOHOR BAHRU, July 19 (Bernama) -- A company manager lost RM262,669 after allegedly falling victim to an online stock investment scam conducted through the WhatsApp application. Seri Alam police chief Supt Mohd Sohaimi Ishak said the police received a report on the incident yesterday after the 39-year-old victim realised he had been cheated. 'The victim said the incident began last April when he came across a stock investment advertisement on WhatsApp that promised lucrative returns within a short period,' he said. 'Interested, the victim made 16 transactions into two different bank accounts between April 25 and July 4, amounting to a total of RM262,669,' he said in a statement. Mohd Sohaimi said the victim was later asked to make an additional payment purportedly for the withdrawal of investment profits, but no returns were received. He said the victim realised he had been scammed after all efforts to recover the investment money failed. 'Initial investigations using the Semak Mule platform by the Commercial Crime Investigation Department (CCID) found that one of the bank accounts used in the transactions had a prior police report linked to an investment fraud case,' he said. The case is being investigated under Section 420 of the Penal Code for fraud. Police will also conduct further investigations into the use of mule accounts, with appropriate action to be taken against the account holders involved. He urged the public to exercise caution with investment schemes that promise high returns in a short time and to verify the legitimacy of companies through the Securities Commission Malaysia and the Semak Mule portal before making any transactions.
New Straits Times
5 days ago
- Business
- New Straits Times
Business executive loses over RM262,000 to WhatsApp stock investment scam
PASIR GUDANG: A company manager has lost more than RM262,000 after falling victim to a fake stock investment scheme promoted via WhatsApp, police said. Seri Alam police chief Assistant Commissioner Mohd Sohaimi Ishak said the 39-year-old woman was enticed by an advertisement promising fast, high returns on stock investments. The business manager lodged a report on Friday after realising she had been deceived, Berita Harian reported. Police said the scam began in April, when the victim clicked on a promotional link shared through WhatsApp. She was then instructed to transfer money in stages — supposedly to withdraw her profits — into two separate bank accounts. "Between April 25 and July 4, the victim carried out 16 transactions totalling RM262,669," Sohaimi said in a statement. "When the promised returns failed to appear and the suspect's phone number became unreachable, she realised it was a scam." Checks revealed that one of the bank accounts was listed in Semak Mule, a Malaysian public database that tracks accounts involved in fraudulent activities. The case is being investigated under Section 420 of the Penal Code for cheating. Police are also examining the possible involvement of 'money mule' accounts, and legal action will be taken against any individuals found complicit. Authorities have advised the public to remain cautious of schemes promising unusually high financial returns. "Always verify the legitimacy of investment offers through official channels before making any payments," Sohaimi said. "If an offer appears suspicious, report it to the authorities without delay."
