A 70-year-old retired civil servant was misled on a social media investment page to make multiple remittances to invest in so-called cryptocurrencies, but eventually found that his investment was completely lost, with a total loss of RM54.
Perak Police Chief Datuk Seri Mohd Yusri said the Lower Perak District Commercial Crime Investigation Division received a report at 7:30 pm on July 4 regarding a local man who had accidentally fallen into a non-existent cryptocurrency investment scam.
According to preliminary police investigations, the victim was browsing Facebook on January 1 this year at his home in Bangang when he found an investment page with an address in Singapore. The page offered an opportunity to buy shares of US cryptocurrencies, and the man was attracted by the opportunity, so he contacted the page user through the mobile application Whatsapp according to the contact number provided by the page. During the process, the man was asked to provide his bank account information in order to transfer funds to the cryptocurrency exchange. The man was very cautious and realized that this might be a scam, but he eventually transferred 8 Singapore dollars to the designated account as required by the other party. However, soon, the man found that his bank account was frozen and he could no longer make any transactions. He quickly contacted the page user and the cryptocurrency exchange, hoping to resolve the problem. However, he did not receive any response or any information about the progress of the case investigation. The man was very disappointed and angry. He believed that he had been deceived, so he reported the case to the police. The police have launched an investigation and said that they will do everything they can to trace the truth of the case and ensure that the victim can get the compensation and justice they deserve.
The man said that after the other party asked him to provide personal information including his ID number and bank account number on the grounds that he needed to enter information for cryptocurrency investment, he began to remit RM1 to buy stocks on January 9 this year. The man was told that he could get a return of RM500, but in fact he only received RM4950.
The man was told that if he did not withdraw the money, he would continue to make profits. The man contacted the other party on January 1 and was told that he had received RM10. However, the other party asked him to pay various fees in order to get a return on his investment.
Between January and July, a man conducted 1 remittance operations through online remittances, involving 7 different local bank accounts, with a total loss of RM133.
He said the man received no return on his investment during that time.The lost money was his and his wife’s pension, hard-earned money they had earned through a lifetime of hard work.After they had exhausted the money, the other party still asked the man to invest.
A man sought payment from the other party, but the other party gave him various reasons and even stopped responding to messages.The man felt cheated and went to the police station to report the incident.
The police launched an investigation in accordance with Article 420 (Fraud) of the Criminal Code and the case is currently under investigation.Police remind the public not to believe in high-risk investment plans that do not exist.
The following measures can help the public prevent scams: invest in legal channels that have been registered with Bank Negara and the Securities Commission of Malaysia, consult registered financial advisors, and do not trust investments that can yield huge returns in a short period of time. Deposit funds in a bank account not related to investments.
If you want to check the list of companies that have not been approved or licensed, you can first check the list of companies that are not approved or licensed, you can also visit the Bank Negara website at www.bnm.gov.my or call 1-300-88- 5465, and the Securities Commission Malaysia website www.sc.com.my or call 03-6204 8999.Also, follow announcements on relevant social media platforms for the latest company approvals.
In some countries, online gambling is considered illegal.This article is intended for industry analysis, so the content is for reference only.
