Retiree loses over RM337,000 in Facebook investment scam

A 61-year-old retiree in Pahang has lost RM337,457 after falling victim to an online investment scam promoted on Facebook, prompting authorities to once again caution the public against fraudulent schemes circulating on social media platforms.

According to Pahang Police Chief Datuk Seri Yahaya Othman, the victim first came across the advertisement on January 29. The promotion promised attractive returns of up to RM14,000 with a minimum investment of just RM300, making it appear both accessible and highly profitable. Enticed by the offer, the victim initiated contact with the suspect via WhatsApp using a local phone number and was subsequently guided through a series of financial transactions.

Between January 30 and March 9, the victim carried out a total of 38 transfers to 16 different bank accounts, amounting to RM337,457. Throughout this period, all communication regarding the investment, including updates on supposed profits, was conducted solely via WhatsApp. Investigations later confirmed that there was no legitimate investment platform involved, and the entire scheme was fabricated.

Authorities noted that the victim did receive a small initial payment of RM392.11, which likely served to build trust and reinforce the illusion of legitimacy. However, the situation escalated when the victim was later asked to pay an additional RM210,500, allegedly as a withdrawal fee to access the promised profits. This raised suspicion, leading the victim to lodge a police report.

Further investigations revealed that the funds lost included not only personal savings but also money obtained from pawning jewellery, significantly compounding the financial impact. The case is currently being investigated under Section 420 of the Penal Code, which covers offences related to cheating and fraud.

Police have reiterated the importance of exercising caution when encountering investment opportunities online, particularly those that promise high returns with minimal capital. Members of the public are encouraged to verify the legitimacy of any scheme through official channels, including consulting relevant financial authorities and checking bank account details via platforms such as the Semak Mule database.

In addition, authorities stress that swift action is crucial in suspected scam cases. Victims are advised to immediately contact the National Scam Response Centre to increase the likelihood of tracing and recovering lost funds. As scammers often move money rapidly across multiple accounts, delays in reporting can significantly reduce the chances of successful intervention.