Individual loses over RM1.6 million in non-existent online investment scam

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SHAH ALAM: An individual in Gombak suffered losses of over RM1.6 million after falling victim to a non-existent online investment scam. Selangor polic...

: An individual in Gombak suffered losses of over RM1.6 million after falling victim to a non-existent online investment scam.

“The suspect sent a link and asked the victim to download the investment app for the platform and for depositing funds into the victim’s account. Hussein said the victim tried to withdraw the profits but couldn’t and was instead given excuses such as the need to pay taxes and ‘cross-border transfer fees’ for the withdrawal process.“The victim then made 44 transactions to the suspect, involving four different accounts, amounting to RM1,688,725 before realising it was a scam when the promised profits could not be withdrawn,“ he said.

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