Company MD loses RM520,000 to phone scam syndicate

: The managing director of a private company has been cheated of RM520,000 by a phone scam syndicate, according to Johor police.

“The individual told the victim that an automated teller machine card in his name was found during a raid and claimed that he was involved in money laundering activities,“ he said in a statement today. “The victim believed the caller because the name and identity card number read out by Insp Lee were accurate. Additionally, he received a letter with a court letterhead stating that investigative, arrest and asset freeze actions would be taken, sent through the WhatsApp application.

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