Police warn public after 62-year-old woman transfers funds to fake stock app promising quick returns
A retired civil servant in Johor has lost more than RM3 million to a fraudulent online investment scheme that lured her with promises of instant profits. The case highlights the growing threat of social media-based scams targeting unsuspecting Malaysians, especially retirees seeking alternative income sources.
Promised Quick Returns Turned Costly
Johor police chief Datuk Ab Rahaman Arsad confirmed that the 62-year-old victim filed a report on October 24 after realising she had been cheated. The scam began in July, when she saw a social media advertisement promoting a supposedly “profitable and easy” stock investment scheme.
Tempted by the promise of fast returns, the woman clicked the link and was contacted by the suspect, who instructed her to download a mobile application allegedly used to monitor her investments.
Transfers to Multiple Accounts
Between August 19 and October 15, the victim made 29 separate bank transfers totalling RM3,070,443 to six different bank accounts provided by the scammer. She only grew suspicious after being unable to withdraw her so-called profits via the application and later discovered that the suspect could no longer be reached.
The police have opened an investigation under Section 420 of the Penal Code for cheating — an offence punishable by up to 10 years in prison, whipping, and a fine.
Police Issue Warning Against Fake Online Investments
Datuk Ab Rahaman urged Malaysians to remain vigilant against online investment offers that sound “too good to be true.” He emphasised that many scams originate from advertisements on social media platforms, where criminals often impersonate legitimate investment firms.
He reminded the public to verify bank accounts and phone numbers through the Semak Mule application — an official tool that allows users to check for reports of fraudulent activities — before making any payments or fund transfers.
Quick Action Can Prevent Heavy Losses
The Johor police chief also advised victims or potential victims to immediately contact the National Scam Response Centre (NSRC) at 997 for help in blocking fund transfers and tracing fraudulent transactions.
Police continue to stress that legitimate investments do not guarantee fast or unrealistic profits, and any scheme that pressures participants to act quickly should be treated with extreme caution.
The case serves as a stark reminder of the growing sophistication of online scams across Malaysia. As more financial activities move online, public awareness and swift action remain the best defences against such losses. The authorities urge both Malaysians and regional neighbours to remain alert — because in the digital age, prevention is the most powerful form of protection.
Sources: New Straits Times (2025) , The Sun (2025)
Keywords: Retired Civil Servant, Online Investment Scam, Johor Police, Fake Stock App, RM3 Million, Cyber Fraud
