PETALING JAYA: A businessman from Gombak lost over RM1.6 million in an online investment scam.
Selangor police chief Hussein Omar Khan said the victim was approached through the WeChat application, asking him to download an investment app.
Several days after transferring money into the app, the victim found that the investment had made a profit.
Hussein said when the victim tried to withdraw the profits, he was given various excuses and told that he needed to pay taxes and “cross-border transfer fees” as part of the withdrawal process.
He said the victim had made 44 transactions to the suspect, involving four different accounts, amounting to RM1,688,725.
When the promised profits could not be withdrawn, he realised he had been scammed and reported the matter to police.
Hussein advised the public to always be cautious of online investment schemes and investment apps, and to verify the legitimacy of stock investments with Bank Negara Malaysia and the Securities Commission Malaysia.
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