Scam Alert: Housewife Losses RM2,500 to Fraudulent Investment Scheme

Reny, a housewife from Malaysia, heard that investing may bring good fortune and joined an investment group on Telegram.

Since she knew nothing about investing and trading, she was just a quiet spectator at first.

According to the group administrator, the investment program he offered had only a 10% probability of loss. If wins, the investor would enjoy 80% of the profit within 3 to 6 hours. The remaining 20% of the profit goes to the financial company providing the service.

Moreover, the investor did not need to worry about losing money. The financial company promised to return all the principal in case of loss and investors may start trading again.

_{Scammers promised incredible returns}

In the “MAYBANK INVESTMENT MALAYSIA” group, people asked how to participate in the investment, and thanked the administrator for helping them earn money.

Seeing other people were assured to join the investment and earn money, Reny could not help but want to take this opportunity to earn some extra income.

After transferring RM500 to a bank account owned by a scammer, she waited for good news.

A few hours later, the scammer notified her that the trades were successful and asked her to pay additional fees for the withdrawal twice.

After discussing with her husband, the victim agreed to pay RM2,000 as required. However, she did not have her profit and was kicked out of the group.

About the Telegram investment group

In recent years, numerous fraudulent investment groups on Telegram have targeted Malaysian investors, especially beginners.

The group that made the housewife Reny a victim of an investment scam was called “MAYBANK INVESTMENT MALAYSIA”.

The scammers used the name of Maybank, a major bank in Malaysia, to lure investors into believing that it was a reliable investment scheme endorsed by the bank.

In addition, they also used photos of Datuk Dr Nazri Khan (DDNK), a well-known Malaysian celebrity, to add credibility.

_{The profile of the fraudulent group and its admin}

Novice investors should know that making a profit in the risky financial market is not an easy task. One often needs to carefully analyze historical prices and future trends before making any investment decision. No one can promise a successful trade, but everyone needs to be prepared to bear the consequences of a failed investment.