JOHOR BARU: An assistant manager and a businesswoman lost a total of RM575,389.14 to separate fraudulent online schemes yesterday.
Johor Baru (South) police chief Assistant Commissioner Raub Selamat said the 42-year-old victim stumbled upon an opportunity to invest in shares in an overseas institution that promised high returns of up to 400 percent based on the capital sum injected into the scheme.
Meanwhile, the woman, 52, was introduced to the scheme via a WhatsApp investment group.
The man made 15 online transfers amounting to RM472,400 to a bank account given by his investment 'agent' between May and June after he downloaded an App Store application and created an account.
He saw this capital investment raking profits up to RM3,712,445.33.
However, when he attempted to withdraw the profits, he was asked to make additional cash transfers, which he declined.
He then realised he was duped when the 'agent' was unreachable and the site inaccessible.
The businesswoman, meanwhile, claimed a woman in an investment WhatsApp group introduced a seemingly lucrative investment with high returns on April 14.
Convinced of the legitimacy of the investment, she registered via a link given by the woman and made 10 bank transfers amounting to RM102,989.14 into various bank accounts.
When she attempted to withdraw her profits, the site was inaccessible, and the woman had blocked all online communication.
Raub said both cases are being investigated under Section 420 of the Penal Code for cheating.
He cautioned the public against falling prey to online investment scams that promise unrealistically high returns, by verifying their legitimacy against portals managed by the police, Bank Negara Malaysia, and the Securities Commission.