The TikTok Scam That Cost a Retiree Nearly RM470,000

A 61-year-old former accountant has lost RM469,875 after becoming the latest victim of a fraudulent investment scheme promoted on TikTok.

According to information released by the Johor Bahru Selatan district police, the man had been browsing TikTok when he came across an advertisement promoting opportunities to invest in Bursa Malaysia stocks. The promotion appeared credible enough for him to request further details, leading him to contact an individual who introduced himself as an investment representative through WhatsApp.

Police said the victim was soon placed into a WhatsApp group where another member presented what was described as the investment method. The individual guided him through the supposed process, including instructions to download a mobile application through which all transactions would be handled. Believing he was dealing with a legitimate investment platform, the victim agreed to proceed.

Between 8 October and 28 November 2025, he carried out 13 online banking transfers to several bank accounts. Each account, according to police, was registered under a different company name, which is an early warning sign often associated with fraudulent operations. The man was persuaded to continue depositing funds after being assured that he would earn stable returns.

Investigators reported that the suspect had promised the victim returns of between 7% and 15% on the invested amount. To reinforce the illusion of legitimacy, the man initially received a small profit of RM14,763. This early payout appeared to strengthen his trust in the scheme, a common tactic used by fraudsters to encourage victims to commit larger amounts.

However, the situation changed when the perpetrators asked him to make further payments. The victim grew suspicious and refused. Shortly afterwards, he realised he had no access to the promised returns and that the individuals he had been communicating with were no longer reachable. It became clear that he had been deceived, prompting him to lodge a police report.

The district police chief, ACP Raub Selamat, confirmed that the case is being investigated under Section 420 of the Penal Code for cheating. The offence carries significant penalties, including a jail term ranging from one to 10 years, whipping, and a possible fine upon conviction. Authorities are continuing efforts to identify the parties behind the fraudulent accounts and to trace the flow of funds.

Police have reiterated calls for the public to exercise vigilance when encountering investment offers on social media. They emphasised that official investment opportunities do not require communication through informal channels such as messaging applications and do not instruct participants to transfer funds to numerous unrelated accounts.

Authorities also urged investors to verify any financial offer using official resources. Members of the public are encouraged to check the legitimacy of investment platforms and bank accounts through the Semak Mule portal, an online tool designed to identify accounts linked to scams. Additional information can be confirmed through the official websites of the Securities Commission Malaysia and Bank Negara Malaysia.

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