How One Man Lost RM372,000 in Six Days With 1 Mobile App

A 36-year-old insurance agent in Johor Bahru lost RM372,645 after falling victim to a fake investment scheme advertised on Facebook.

According to Johor Baru Selatan deputy police chief Superintendent Azrul Hisham Mohd Shaffie, the victims ordeal began on 28 September while he was at home in Taman Puteri Wangsa. Drawn in by what appeared to be a legitimate Facebook investment advertisement, the victim reached out to the contact listed in the post.

He was soon asked to download a mobile investment application and open an account using his personal information. Though no fixed returns were mentioned, the platform displayed what seemed like steady profit growth, convincing the victim that the investment was genuine.

Believing his funds were generating returns, the man proceeded to make 26 transfers between 28 September and 4 October, depositing a total of RM372,645 into four different bank accounts provided by the scammers.

Police investigations later found that the accounts used to receive the funds had no prior criminal record, suggesting that the scammers may have used mule accounts, which are legitimate bank accounts rented or stolen to obscure their identities.

The victims suspicions grew after he was asked to make additional payments before being allowed to withdraw his “profits”. When he refused, communication from the scammers ceased, and he realised he had been deceived.

Superintendent Azrul said police are now tracking the suspects by examining bank statements, liaising with telecommunications companies to trace the phone numbers involved, and working to identify and apprehend those responsible. The case is being investigated under Section 420 of the Penal Code for cheating.

Police continue to urge the public to verify investment offers before transferring any funds. Any platform claiming to offer investment services should be checked through Bank Negara Malaysia (BNM) or the Securities Commission (SC) websites, where licensed entities are listed.

Superintendent Azrul also reminded Malaysians to be cautious of unsolicited investment ads on social media, noting that “easy profits” and “fast returns” are almost always warning signs of fraud.

As online scams grow more sophisticated, authorities emphasise that awareness is the best defence. Individuals are encouraged to seek independent advice, avoid sharing personal details, and report suspicious activity immediately to prevent further losses.