Insurance agent and retiree lose RM2.35mil to online scams
GEORGE TOWN: Two people, including an elderly man, suffered losses totalling RM2.35mil after falling victim to online investment scams in separate incidents in Penang.
State police chief Comm Datuk Hamzah Ahmad said in the first case, the Commercial Crime Investigation division of the Seberang Perai Tengah district police headquarters received a complaint from a 57-year-old local man on Saturday after he lost almost RM1.5mil.
'According to the insurance agent, he saw a stock investment advertisement promising high returns on Facebook in December.
'The victim then contacted a female suspect via WhatsApp.
'The investment offered various packages with promises of lucrative returns.
'The victim downloaded the stock investment application and on Dec 30, made the first transfer of RM9,999. He earned a profit of RM18,400,' Comm Hamzah said in a statement yesterday, Bernama reported.
He said the victim's confidence grew in the investment and he subsequently made 35 fund transfers between Feb 17 and April 24 into seven bank accounts belonging to different companies totalling RM1,495,176.
Comm Hamzah said the man only realised he had been a victim of fraud after failing to withdraw profits from the investment app and was even asked to make an additional payment.
In the second case, he said a 73-year-old retired accountant at a factory filed a police report at the George Town district police headquarters on Saturday after falling victim to an online investment scam involving a loss of RM855,001.
'According to the victim, he saw an advertisement on cryptocurrency investment that offered high profits in a short period of time on Facebook in March.
'The elderly person clicked on the advertisement link before contacting a female suspect via WhatsApp,' he said.
Comm Hamzah said the victim downloaded the investment application before making 14 transactions to five bank accounts belonging to different companies from April 15 to June 11, but did not receive any profits.
He added that investigations were being carried out to trace the fraud syndicate.
Both cases are being investigated under Section 420 of the Penal Code for cheating.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
an hour ago
- Barnama
Alliance Bank Partners Jane Goodall's Roots & Shoots For Financial Literacy & Biodiversity Challenge Programme
From left: Alliance Bank's Head of Group Marketing & Branding, Shayne Koh, Alliance Bank's Chief Strategy & Transformation Officer, Dr. Aaron Sum, Roots & Shoots Malaysia President, T.P Lim and Roots & Shoots Malaysia Head of Education and Outreach, Peter Ong. Credit : Alliance Bank KUALA LUMPUR, June 23 (Bernama) -- Alliance Bank Malaysia Berhad (Alliance Bank) and Jane Goodall's Roots & Shoots Malaysia, a youth-led action programme, will collaborate on financial literacy and biodiversity awareness for schoolchildren over the next two years. According to a joint statement, the partnership, formalised today with the signing of a Memorandum of Understanding between the two parties, would begin with the 2025 AEIOU Financial Literacy and Biodiversity Programme in Sabah. The transformative initiative aims to nurture young leaders with practical money management skills and ecological awareness, and under the theme 'AEIOU for Responsible Living: Smarter Finances, Caring for Nature, Greener Choices', the programme would engage 160 pupils from 20 schools in Kota Kinabalu, Penampang, and Tuaran. 'The programme will be conducted through an immersive blend of physical and virtual workshops, project-based learning, and interactive simulations,' the statement read. Alliance Bank Group Chief Strategy and Transformation Officer, Dr Aaron Sum, was quoted in the statement as saying that, 'By teaching schoolchildren to make smart financial choices while understanding their impact on the environment, we're shaping a generation that's not just money-wise but planet-wise too'. Meanwhile, Roots & Shoots Malaysia President T.P. Lim said Roots & Shoots Malaysia had worked closely with local NGOs and corporate partners in Malaysia to co-create programmes for young people that connect the head to the heart, leading to long-term behavioural change, for the past ten years. 'In this unique collaboration, we are excited to work with the talented team from Alliance Bank and thrilled to have biodiversity knowledge being introduced to young school children in such a fun and engaging way,' he said. According to the statement, AEIOU, a flagship CSR programme by Alliance Bank, was first introduced in 2015 and had engaged over 150,000 primary school children over the span of seven editions, offering financial literacy workshops, biodiversity game simulation, and 'Biodiversity Challenge'. The use of comic storytelling, virtual currency, and eco-preneurship simulations further enhances engagement, making learning both meaningful and memorable.
Malaysian Reserve
2 hours ago
- Malaysian Reserve
Johan: Government to closely monitor potential impact from ongoing geopolitical tension
KUALA LUMPUR — The government is closely monitoring the ongoing geopolitical situation and its potential impact on the Malaysian economy, particularly in the wake of the Sales and Service Tax (SST) expansion. Treasury Secretary-General Datuk Johan Mahmood Merican said the high level of uncertainty due to geopolitical developments in the Middle East draws a premature conclusion on how it might influence inflation and the cost of living domestically. 'I do recall back when we had the Ukraine war, there was just so much uncertainty. We don't know to what extent the situation may escalate and how that might impact the economy. 'Initially, we had thought that the Russia-Ukraine war would not affect us much because we do not have much trade with either country. We were quite wrong. It turned out that Ukraine was the major supplier of feed. Therefore, we suddenly saw an increase in agricultural inputs, which impacted prices,' he said at the Concorde Club session today. Johan said given the ongoing conflict is in the Middle East, there will be some impact on oil prices, one of the key factors in Malaysia's inflation outlook. He said oil prices have been fluctuating significantly, having started the year in the mid-US$70 range, dipped to the low US$60 last month and recently climbed again amid regional instability. 'But at least, year-to-date, inflation has remained below 2.0 per cent thus far. We saw a Maybank estimate of an impact of 0.25 per cent on the consumer price index (CPI) as a result of SST. 'Our internal estimates are in that order of magnitude as well. But if the situation escalates, we certainly need to see how that impacts in terms of economic growth,' he said. For now, Johan said the ministry will continue to monitor developments and adjust its economic strategies as needed to maintain price stability and protect Malaysians from sudden cost-of-living pressures. The expanded SST to improve national fiscal stability without overburdening the public is set to take effect from July 1, 2025. The government expects additional SST to increase by RM5 billion in 2025 and by RM10 billion in 2026 following the review and expansion of the tax scope. On RON95, Johan said the government remains committed to rationalising fuel subsidies through a targeted approach, with the implementation of RON95 petrol subsidy reforms anticipated in the second half of 2025. 'The exact timing and structure are still subject to Cabinet decision,' he said. He said the move mirrors earlier reforms undertaken for electricity tariffs and diesel subsidies, which introduced tiered pricing mechanisms to protect lower and middle-income groups while curbing leakages. — BERNAMA
Daily Express
2 hours ago
- Daily Express
Lawyers question NFA on Naimah's police report over Bloomberg article
Published on: Monday, June 23, 2025 Published on: Mon, Jun 23, 2025 By: FMT Reporters Text Size: Naimah Khalid filed a police report last September over a Bloomberg article on MACC's investigations into her late husband Daim Zainuddin. PETALING JAYA: Lawyers for Naimah Khalid, the widow of former finance minister Daim Zainuddin, have expressed disappointment with the move to classify her police report against Prime Minister Anwar Ibrahim and Malaysian Anti-Corruption Commission (MACC) chief Azam Baki as requiring no further action (NFA). The report, filed last September, was related to a Bloomberg article concerning MACC's investigations into Daim before his death on November 13. Lawyers Rajesh Nagarajan and Sachpreetraj Singh Sohanpal said they received a letter dated June 21 informing them that the case had been classified as NFA. 'The decision is unacceptable, outrageous and contrary to good governance and the rule of law,' they said in a statement today. They also noted that the NFA decision came shortly after Naimah filed a complaint with the Independent Police Conduct Commission over what she viewed as delays in investigating her original report. 'No details have been given of who was questioned, what steps were taken, or the reasons for the NFA,' they said. Advertisement They also said that the case was closed 'quietly' despite its public interest value. 'This decision reflects badly on the police and Attorney-General's Chambers, and confirms the erosion of institutional independence under the Madani administration. 'We will not be silenced or deflected from our pursuit of justice. Malaysians deserve institutions that serve the public, not those in power,' they said. Citing sources, Bloomberg reported that Azam had told agency officials that instructions to investigate Daim, as well as former prime minister Dr Mahathir Mohamad and his sons, came from Anwar himself. Naimah said the Bloomberg report showed that the charges against her and Daim were a conspiracy to target Anwar's political opponents by 'subverting the institutions of state and enforcement bodies'. Both the Prime Minister's Office and MACC have denied the claims in the Bloomberg report. Daim was charged in January last year with failing to declare assets to MACC, including interests in 38 companies, 19 land plots in five states, six properties, two unit trust accounts, and seven luxury vehicles. After his death last November, the prosecution withdrew the charges and the court granted an order discharging and acquitting him. However, the anti-graft agency said that investigations under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act would proceed. Naimah, who also faces an asset declaration charge, is accused of failing to declare her ownership in various companies, several plots of land in Kuala Lumpur and Penang, and two vehicles. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
