top of page

Over RM1 million lost in investment scam 💸

In less than 2 weeks, a childcare centre operator from Bukit Piatu, Melaka had incurred RM1.06 million in losses after being cheated by an online acquaintance into investing in a non-existent investment 'scheme'.

Melaka police chief Datuk Zainol Samah reported that the 53-year-old woman had become acquainted with the Taiwanese man, believed to be living in Japan, through Instagram on April 27.


"Since then, they had been keeping in touch online and through SMS, and soon developed a close relationship. On May 7, the suspect encouraged the victim to invest in a scheme by buying goods purportedly from the United States through the website, https://everythingmallx.cc/,"

The victim was purportedly asked to purchase items in bulk, only to resell them at a 10% profit mark-up. She made 28 payments to six accounts totalling RM1.06 million between May 7 and 30.


On May 30, Zahid said the victim had found out that her commission had reached US$200,000. Her suspicion was aroused when she was told to make an additional payment to claim her commission. The next day, the website was inaccessible and the suspect's Instagram account was closed, prompting the victim to lodge a report at the Ayer Keroh police station.


 

Scams are becoming more and more complex and prevalent nowadays. Here are some tips💡 to guard against investment fraud:

  1. Be careful with who you get acquainted with on the Internet. Confide in your family & friends if you meet anyone suspicious.

  2. Strengthen your social security by making your social media account private. This allows you to filter your followers and prevent malicious scammers from easily getting into your inbox.

  3. Stick with credible and legally-accountable institutions instead of standalone investment schemes like the above. With that, there will always be an individual liable for the investment.

Lastly, it is important to understand that every investment comes its own risks. Assess your risk tolerance and recognise the stakes before investing your hard-earned money into anything.

3 views0 comments

Comments


bottom of page