Trapped in SPDR’s Fake Investment Scheme | Teacher Loses RM811K

A 60-year-old kindergarten teacher in Kuching, Malaysia, recently fell victim to a fraudulent investment scheme, losing a staggering RM811,500. The scam, which was promoted on social media, operated under the name ‘SPDR Finance and Business College.’

According to Pontian OCPD Superintendent Mohammad Shofee Tayib, the scheme initially caught the victims attention through an advertisement on Facebook. The promotion promised high returns, ranging from 5% to 20%, depending on the investment amount. This enticing offer, paired with seemingly credible assurances, convinced the victim to participate.

The victim began transferring funds on October 22, directing the payments to various mule accounts provided by the scam operators. Over time, these transactions amounted to RM811,500. The scams true nature was only revealed when the promised capital and commissions failed to materialise.

The case is now under investigation, classified as a violation of Section 420 of the Penal Code, which deals with cheating. If found guilty, offenders face imprisonment of one to ten years, caning, and a fine.

Superintendent Mohammad Shofee highlighted the growing sophistication of such scams and the need for public vigilance. He stressed the importance of staying informed about the latest methods used by fraudsters.

To assist the public, the Commercial Crime Investigation Department (CCID) offers resources through its official social media channels. These include Facebook, Instagram, and TikTok, where updates and alerts are shared under the handles @CyberCrimeAlert and @JSJK PDRM.

Additionally, the CCID provides tools like the ‘Semak Mule’ service, enabling users to verify bank accounts and phone numbers linked to fraud. Other resources include the CCID Infoline and the ‘Whoscall’ application, which helps screen suspicious calls.

For those who fall victim to such schemes, immediate action is crucial. The National Scam Response Centre (NSRC) can be reached at 997. Prompt reporting allows authorities to block fund transfers from suspect accounts, potentially minimising losses.

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