Beware Of Online Currency Scam. Victims lost over 3 million in 5 days.

Tuesday, 07 Nov 2023

In just the first five days of November, Johor police have received 13 reports lodged by scam victims with losses amounting to more than RM3mil.

State police chief Comm Datuk Kamarul Zaman Mamat said that between Nov 1 and Nov 5, 13 reports had been lodged by local victims, aged between 21 and 65.

The reports were connected to bogus investment schemes involving losses of between RM2,430 and RM864,303.

“The losses totalled about RM3.3mil,” he said in a statement here yesterday.

He said among the cases, one involved a man and two women who lost RM1.9mil to a bogus forex investment scheme led by a syndicate based overseas.

“The victims came across an investment opportunity on social media and were interested in investing after being promised good returns, including a principal guarantee.

“They believed the investment was true, having communicated with the organiser through Zoom.

“All three victims then made payments (ranging from) RM437,253 to RM864,303 via a (trading) app,” he added.

In another case, Comm Kamarul Zaman said a woman lost more than RM299,000 after investing in a cryptocurrency scheme.


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Posted on 07-Nov-2023