RM460,000 Gone: TikTok Scam Wipes Out Ex-Accountant’s Savings

A 61-year-old former accountant lost RM469,875 after he was pulled into a bogus “investment” that he first saw on TikTok. What caught his eye was an ad that looked like a straightforward Bursa Malaysia stock opportunity. Curious, he reached out via WhatsApp to someone who introduced himself as an investment representative. From there, he was added into a chat group, where another “advisor” walked him through the supposed method and told him to download an app before making deposits.

Believing he was on a legitimate path, the victim made 13 online transfers between 8 October and 28 November 2025. Each payment went to different bank accounts registered under different company names—something many victims only notice in hindsight. The broker-looking representative dangled “returns” of 7% to 15% and, at first, even paid out a small amount—RM14,763—just enough to build trust. But soon after, they began pushing for more money. When the victim refused, it became clear he had been played.

Johor Bahru Selatan district police chief ACP Raub Selamat confirmed the case is being investigated under Section 420 of the Penal Code for cheating, which carries a penalty of one to 10 years jail, whipping and a fine upon conviction. He also reminded the public to be extra careful with social media ads that promise easy or unusually high returns.

If you‘re ever unsure about an investment, take five minutes to verify before you transfer a single ringgit. Use the Semak Mule portal to check bank accounts, and visit the Securities Commission Malaysia and Bank Negara Malaysia websites to confirm licences and warnings. Malaysians can also use the WikiFX app to look up brokers’ regulatory status and read real user reviews. A quick check can save a lifetime of savings.