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by winston » Sun Feb 02, 2025 8:58 pm
Almost 19,000 “investors” lost close to RM2bil in the last four years to fraudulent schemes.
Most of these companies were set up as shell companies bearing names that looked quite similar to those of legitimate investment schemes.
“They would even set up mule companies to enable easier transaction of funds derived from the victims.”
by behappyalways » Wed Feb 05, 2025 7:08 pm
by winston » Fri Feb 07, 2025 8:04 am
The senior citizen, who works as a consultant, was attracted to the ‘Clear Bridge Gold Community Gold Trading’ investment advertisement before being added to a WhatsApp group and given instructions.
The victim was then offered four different investments: Clear Bridge Gold Community Trading, Pictet (VIP) 99 Group Bitcoin Trading, Axiom Share Trading Bulk Trading and 105 Malay Investment Collective.
by winston » Fri Feb 07, 2025 9:41 am
The bank officer claimed to have transferred RM1.87 million for an investment scheme via the 'UVKXE’ app while the sales executive invested RM466,800 in an investment scheme via the 'Arcadia Equity’ app.
He said preliminary investigations revealed that the sales executive was attracted to the 70% returns promised on her investment.
by winston » Wed Feb 12, 2025 10:45 am
Consumers in Singapore lost over S$1.93 million (US$1.43 million) in prepayments for services that were never provided last year, more than quadrupling the amount lost in 2023.
The renovation industry accounted for the lion’s share of those losses, totaling S$728,000 or more than a third of the total,
In many cases, homeowners were unable to reach their contractors mid-renovation and had to urgently find alternatives to finish their projects.
The bridal industry followed with losses of around S$284,000, accounting for nearly 15% of the total.
The moving industry came next with about S$134,000 in prepayment losses, largely due to lost goods during relocations and unfulfilled large deliveries.
by behappyalways » Wed Feb 12, 2025 4:07 pm
by winston » Sat Feb 22, 2025 8:20 am
The victim saw the scheme advertised online.
"He then clicked on a web link and was added to a WhatsApp group.
"He was then taught about investing in crypto by an individual who introduced himself as 'Professor Stanley Lim'.
"Attracted by promises of lucrative returns, the victim downloaded an application and began investing".
"He checked on the progress of his investment through an application, which showed he had made US$269.247mil (RM1.3bil).
"However, when he wanted to withdraw the money, the victim was instructed to pay RM5.56mil for so-called tax charges".
"A total of 46 police reports have been lodged on this investment scam involving losses totalling RM61.4mil.
by winston » Sun Feb 23, 2025 7:46 am
The senior citizen claimed to have received several messages via WhatsApp from an unknown number, introducing himself as ‘Sergeant Michael’ on Dec 21 last year, and informing the victim that he was involved in a money laundering case.
"The victim then made an online transfer to a company account and deposited two cheques into two different company accounts as instructed by Sgt Michael.
"The victim also requested the bank to transfer money from his personal account to a company account provided to him, with all transactions claimed to be for investigation purposes”.
The public is advised not to provide their cards, accounts or banking information, to others to avoid their bank accounts being manipulated by scam syndicates and being used as mule accounts”.
by winston » Tue Feb 25, 2025 8:37 am
The 73-year-old victim joined an investment scheme after seeing its advertisement on social media in November last year.
"She was added to a chat group where the syndicate members promised her returns of up to 10% daily.
"The victim was then told to transfer RM4mil to 10 different bank accounts," he said in a statement on Monday (Feb 24).
He said the victim only realised she was duped when she was instructed to make additional payments to withdraw her profits.
by winston » Fri Mar 07, 2025 7:51 am
A 31-year-old woman has lost a RM203,000 Rolex watch to a cheque fraud while attempting to sell it.
Pang had sent two cheque deposit slips via WhatsApp, showing payments of RM100,000 and RM103,000.
Lee also checked her bank account which showed the money reflected in her balance and then handed over the watch after taking a picture of the ‘employee’.
However, it turned out that the cheque had bounced after a few days, and the sum no longer reflected in her bank account.
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