Latest news with #onlineinvestment
Malay Mail
22-07-2025
- Business
- Malay Mail
Nilai police probe RM1.4m scam after businessman falls for fake app investment
SEREMBAN, July 22 — A businessman suffered losses of over RM1 million after falling victim to a non-existent online investment scheme in April. Nilai police chief Supt Abdul Malik Hasim said the police received a report from the man, in his 50s, at 4.22 pm yesterday at the Pantai police station. 'The victim claimed he had dealings with an individual who offered the scheme on April 29 and was attracted to invest after being promised high returns. 'He was then instructed to download a mobile application called 'CDT MAX' before transferring money into seven different bank accounts provided for the investment. A total of 15 transactions were made, amounting to RM1,449,750,' he said in a statement. Abdul Malik added that the victim realised he had been scammed when he was asked to make additional payments in order to withdraw his so-called investment profits. He said further investigations are underway to trace the suspect under Section 420 of the Penal Code for cheating. — Bernama
Malay Mail
02-07-2025
- Malay Mail
Online scams in Melaka rack up RM39m in losses since January
JASIN, July 2 — Online scams in Melaka have racked up losses amounting to RM39 million across 1,159 cases from January until July 1. Deputy State Exco for Science, Technology, Innovation and Digital Communication Datuk Mohd Noor Helmy Abdul Halem, said police reports from the Melaka Contingent Headquarters showed that the highest losses stemmed from fraudulent online investment schemes. 'Based on the reports received, some cases recorded losses exceeding RM1 million, with victims lured by promises of high returns. Even professionals have not been spared,' he said. 'Despite continuous awareness efforts, many still fall for the syndicates' sweet promises of quick returns and high profits. 'This reflects not only greed and irrationality but also a lack of understanding about the nature of cyber fraud,' he told reporters after launching the Jasin Cybercrime and Infra Communication Safety Awareness Campaign. The event was also attended by Melaka police chief Datuk Dzulkhairi Mukhtar and Malaysian Communications and Multimedia Commission (MCMC) head of Regional and State Coordination Datuk Mohd Shafie Harun. Organised by MCMC in collaboration with Melaka police, the programme was held in conjunction with the Wakil Rakyat Untuk Rakyat initiative for the Bemban state constituency. Mohd Noor Helmy said the state government, MCMC and the police are stepping up cybersecurity education to raise public awareness of increasingly sophisticated scam tactics. He warned that cybercrime and financial fraud continue to rise each year, posing a serious threat to public safety and the state's economy. Criminals, he added, are becoming increasingly sophisticated, employing tactics such as fake calls, scam messages, phishing links and impersonating government officials. Meanwhile, Zulkairi said 650 cybercrime-related arrests have been made in the state so far this year. In response to the growing threat, he said Melaka police have taken the initiative to hold awareness forums to educate the public on the dangers of cybercrime and how to protect themselves. 'These programmes help the public understand the modus operandi of cybercriminals, recognise the signs of digital fraud and identify official channels for verification and reporting. 'Besides fake investment schemes, other commonly reported scams include undelivered online purchases, phishing websites and fraudulent wedding invitation links designed to steal personal information,' he added. — Bernama
Malay Mail
02-07-2025
- Business
- Malay Mail
O&G consultant loses RM2.7m in ‘Nova 88' investment scam
IPOH, July 2 — An oil and gas consultant lost over RM2.7 million after falling victim to a non-existent investment scheme advertised on a website. Perak police chief Datuk Noor Hisam Nordin said the 37-year-old man lodged a police report on June 29 at the Ipoh district police headquarters, claiming he had been scammed through an online investment platform known as 'Nova 88.' Preliminary investigations revealed that the victim registered an account on the website in April 2023 through a contact, now the main suspect, whom he had met via WhatsApp. Convinced by the suspect, the victim made an initial deposit of RM30,000 into a provided account number and was then given a user ID and password to monitor the supposed investment. 'Between Jan 5, 2024, and May 20, 2025, the victim made 136 fund transfers to seven different accounts, totalling RM2,701,687. The funds came from his savings and contributions from family members,' Noor Hisam said in a statement last night. He said the victim realised he had been duped when each attempt to withdraw his purported profits required additional payments. To date, he has been unable to access any returns, with the suspect offering numerous excuses before eventually becoming unreachable. The case is being investigated under Section 420 of the Penal Code for cheating. Noor Hisam advised the public to avoid any form of investment offered through unlicensed, unregistered, or unregulated websites. 'Such investments carry high risks and can lead to significant financial losses. Always verify the background of any investment company with recognised authorities such as Bank Negara Malaysia or the Securities Commission,' he said. — Bernama
Malay Mail
29-06-2025
- Business
- Malay Mail
Kedah engineer loses RM275,000 to ‘6 Investment Securuties Internasional' group in ‘Moomoo' Chinese currency investment scam
ALOR SETAR, June 29 — A 57-year-old engineer lost RM275,000 after falling for an online investment scam known as 'Moomoo', which was advertised on Facebook in April. Kedah Commercial Crime Investigation Department chief Supt Loi Yew Lik said the victim responded to an investment offer involving Chinese currency on April 20 by clicking a WhatsApp link, which led him to a group called '6 Investment Securuties Internasional'. He later communicated with several individuals using the numbers 019-2007253 and 019-2345678. 'The scammers promised a 10 per cent return within days, prompting the victim to transfer RM275,000 in eight transactions between May 27 and June 13 to two company accounts under the names Cisi Infra Solution and Cisi CPT Infra Trading,' he said in a statement today. When no profits were received, the victim grew suspicious as the scammers continued requesting more money, claiming it was needed to release his returns and initial capital. He eventually lodged a police report at the Baling District Police Headquarters yesterday after realising he had been cheated. Loi advised the public to verify any investment offers with the police or nearby stations and to use tools such as the Mule Check app, the CCID Facebook page, or contact the National Scam Response Centre at 997. — Bernama
Malay Mail
17-06-2025
- Business
- Malay Mail
‘Withdrawal fee' trap: Two Penang retirees lose RM1.15m in Facebook, Instagram scam ads
GEORGE TOWN, June 17 — Two retirees lost over RM1 million after falling victim to online investment scams recently, according to Penang police. Penang police chief Datuk Hamzah Ahmad said in a statement that in the first case, the Seberang Perai Tengah District Police Headquarters received a report from a 55-year-old man on June 12, alleging that he had been scammed by an online investment company for RM827,120. 'In early April, the victim came across an investment advertisement on Facebook promising high returns and subsequently got in touch with a WhatsApp. 'The victim was promised a seven per cent return on each investment made,' he said, adding that the man was told to download the company's app to register as a member and invest through the platform. Hamzah said the victim made 22 fund transfers into six different company accounts between April 19 and May 26. 'He realised he had been scammed after being unable to withdraw profits totalling RM23,241,952 as shown on the investment app and subsequently lodged a police report,' he said. In a separate case, he stated that a 56-year-old retired factory technician lost RM321,250 after falling victim to another online investment scam, adding that the victim lodged a police report on June 12 at the Seberang Perai Utara District Police Headquarters. Hamzah stated that around December of last year, the victim came across an investment advertisement on Instagram that promised high returns. He then contacted a female suspect via WhatsApp, who promised a 30 per cent return within three months. He said that on March 21, the victim made the first fund transfer of RM20,000 through the company's app, and within less than three months, he received RM14,150 in profits. 'He made 11 additional fund transfers between March 27 and June 3 into four different company accounts linked to the scheme, but realised he had been scammed after he could not withdraw RM280,000 in purported profits and was instead asked by the suspect to pay an RM120,000 withdrawal fee,' he added. He said investigations are ongoing, and both cases are classified under Section 420 of the Penal Code for cheating. — Bernama
