Johor Bahru, November 19 — Online investment scams have claimed two high-profile victims in Johor, with losses exceeding RM1.8 million (SGD 539,000). A factory manager and an oil-and-gas (O&G) technician fell prey to fraudulent schemes promising quick returns of up to 10x their investments. The cases highlight the growing danger of sophisticated scams in Malaysia, prompting warnings from law enforcement.

These incidents, revealed by Johor police on November 17, involve scammers targeting vulnerable individuals through social media platforms like WhatsApp. Victims were enticed into making substantial financial transfers under the guise of high-profit investment schemes.

Case 1: RM908,305 Lost by O&G Technician
Johor Police Chief Comm Datuk M. Kumar shared details of a scam where an oil-and-gas technician was tricked into transferring RM908,305 (SGD 272,020) after downloading a fraudulent investment application. The technician, who worked in Iraq, was promised immediate returns and was encouraged to attend online classes demonstrating the “investment’s potential.” The application showed fictitious profits of RM8 million (SGD 2.39 million), but the scam unraveled when he was asked for an additional RM100,000 (SGD 29,966) to withdraw his “earnings.”

Case 2: RM943,250 Lost by Factory Manager
In another incident, a 53-year-old factory manager was added to a WhatsApp group promoting investments in the hospitality sector. Promised quick and significant profits, she transferred RM943,250 (SGD 282,580) to various bank accounts. After being told her investment had generated RM600,000 (SGD 179,796), she refused to pay further withdrawal fees and realized she had been scammed. A police report was filed, confirming her suspicions.

Points Highlighted

1. Targeted Individuals
Both victims were approached on WhatsApp and manipulated into trusting scammers.

2. Sophisticated Scam Tactics
The scammers used tailored applications, fake profit statements, and online classes to appear credible.

Read More: Batam Immigration Scrutinizes Nigerian National Over Alleged Recruitment Scam

3. Total Losses in Malaysia
Trust tech company Gogolook revealed Malaysians lose US$12.8 billion annually (SGD 17.3 billion) to scams.

4. Legal Actions Taken
Both cases are under investigation under Section 420 of Malaysia’s Penal Code for cheating.

5. Public Warnings Issued
Johor Police have urged the public to remain vigilant against schemes promising high returns with minimal effort.

These cases underscore the urgency of raising awareness about online investment scams. For Singaporeans and international visitors, the incidents are a cautionary tale against quick-profit schemes that can cost millions. Singaporeans, in particular, are advised to exercise caution when investing across borders, as scammers often exploit international trust.

Two victims in Johor, Malaysia, were defrauded of RM1.8 million (SGD 539,000) in online scams promising high investment returns. Police investigations highlight the growing sophistication of such schemes and the urgent need for public vigilance.

Sources: Yahoo News, Daily Express (2024)

Keywords: Johor Scams, O&G Workers, Factory Workers