KUCHING: A 71-year-old man fell victim to an online investment scam promising high returns through the sale of cosmetic products, resulting in losses amounting to RM800,000.
Kuching police chief ACP Alexson Naga Chabu said the victim was contacted in 2021 by an unknown woman who offered him an opportunity to invest in a cosmetic business.
“Believing the promises of lucrative profits, he made eight payments via bank transfers and cheques.
“Suspicion arose only after he failed to receive the expected returns,” he said in a statement.
He added the case is being investigated under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property.
Conviction can result in one to 10 years’ imprisonment, whipping, and/or fines.
From Jan 1 to Nov 20, the Kuching Commercial Crime Investigation Division (CCID) recorded 104 cases with a similar modus operandi, involving total losses of RM24.27 million.
Alexson advised the public to be cautious of online investment offers, conduct thorough checks on companies, and verify them through official portals such as Bank Negara Malaysia and the Securities Commission Malaysia.
Victims who have recently made payments to scammers are urged to contact the National Scam Response Center (NSRC) at 997.
He also recommended using applications like Whoscall and Check Scammers CCID to verify phone numbers and bank accounts before conducting any financial transactions.
Updates on scams and the latest modus operandi can be accessed via the official social media accounts of the Commercial Crime Investigation Department: @JSJKPDRM and @CyberCrimeAlertRMP on Facebook, Instagram, and TikTok.
“Believing the promises of lucrative profits, he made eight payments via bank transfers and cheques.
“Suspicion arose only after he failed to receive the expected returns,” he said in a statement.
He added the case is being investigated under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property.
Conviction can result in one to 10 years’ imprisonment, whipping, and/or fines.
From Jan 1 to Nov 20, the Kuching Commercial Crime Investigation Division (CCID) recorded 104 cases with a similar modus operandi, involving total losses of RM24.27 million.
Alexson advised the public to be cautious of online investment offers, conduct thorough checks on companies, and verify them through official portals such as Bank Negara Malaysia and the Securities Commission Malaysia.
Victims who have recently made payments to scammers are urged to contact the National Scam Response Center (NSRC) at 997.
He also recommended using applications like Whoscall and Check Scammers CCID to verify phone numbers and bank accounts before conducting any financial transactions.
Updates on scams and the latest modus operandi can be accessed via the official social media accounts of the Commercial Crime Investigation Department: @JSJKPDRM and @CyberCrimeAlertRMP on Facebook, Instagram, and TikTok.