A Malaysian retiree lost more than RM134,000 in savings after falling victim to a fraudulent investment scheme on Facebook that promised extraordinary returns of 3,233% in just six hours.
A 65-year-old contractor from Pahang, Malaysia, recently fell victim to a WhatsApp investment scheme, losing RM463,792 of his life savings.
A 56-year-old Malaysian businesswoman recently fell victim to a fraudulent online investment scheme, losing nearly RM220,000. The scam, which was promoted on Facebook, lured the victim with promises of quick and significant returns. The scheme, operated under the name AFA Investment Malaysia, was advertised on the Facebook page Advance Fin Advisory, where the businesswoman first encountered it on August 31.
The rise of social media has revolutionized the way people connect, communicate, and share ideas. But while it offers a wealth of opportunities, it has also become a breeding ground for questionable investment schemes. These ads often promise quick returns with minimal effort, making them appealing to people looking for easy financial gains. However, the question remains: are these ads reliable? Unfortunately, the answer is often no.
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