Scammed by a Click: He Lost RM300,000 in a Month

A company director in Malaysia lost over RM300,000 after falling for an online investment scam he found on Facebook. The incident has raised concerns about the growing number of fraud cases involving social media ads.

The 44-year-old man made a police report in Kedah after realising he had been scammed. According to Superintendent Loi Yew Lik, head of the Commercial Crime Investigation Department in Kedah, the victim first saw the investment ad on 11 May. He later contacted several people through WhatsApp, as directed in the ad.

The scammers promised daily profits of 10%. Between 14 May and 17 June, the man transferred a total of RM302,100 in 18 separate transactions to three different bank accounts. He believed the returns would be quick and reliable.

However, things changed when the scammers started asking for more money. They told him he needed to pay extra in order to withdraw both his profits and the money he had already invested. At this point, the man became suspicious and reported the matter to the police.

Superintendent Loi advised the public to always check with the authorities before sending money for any investment. He said people can use tools like the Semak Mule app, visit the JSJK PDRM Facebook page, or call the National Scam Response Centre (NSRC) at 997 to confirm if an offer is real or a scam.

This case is a reminder of how easy it is to be misled by offers that sound too good to be true. Scammers often use social media to promote fake investment schemes that seem professional and trustworthy.

To help protect investors, platforms like WikiFX offer useful tools to check the background of financial companies and brokers. WikiFX provides information such as licences, user reviews, and alerts on suspicious companies. This can help users avoid scams before its too late.

By doing proper checks, investors can stay safe and avoid falling into traps like the one in this case. With more scams appearing online, knowing how to spot warning signs is more important than ever.

Online investment scams are becoming more common and more convincing. Staying informed and being careful with your money is the best way to protect yourself from financial loss.