From Facebook Ad to Financial Ruin: Malaysian Manager Loses Over RM650,000 to Investment Scam

A 45-year-old manager in Malaysia has lost RM 651,800 to a fraudulent investment scheme advertised on social media, falling victim to promises of lucrative returns.

The man first encountered the fraudulent investment opportunity in January through a Facebook advertisement promoting high returns. Clicking on the link led him to a WhatsApp chat group where five suspects convinced him to participate in the scheme.

To monitor his supposed investments, the victim was instructed to download an app. Over the course of February 13 to March 27, he transferred funds across 25 transactions to three different bank accounts.

His suspicions arose when he was instructed to transfer additional funds. By then, he had yet to receive any promised returns, realizing he had been scammed.

Malaysian authorities urge the public to remain vigilant against investment schemes that guarantee high returns with minimal risk and caution against deals that appear too good to be true.