Police Dismantle Online Investment Scam Hub in Johor
Authorities in Johor, Malaysia, have dismantled an alleged online investment scam, arresting seven individuals during a raid in Taman Ekoflora on 13 January. The suspects, aged between 18 and 41, had reportedly turned an apartment into a base for their fraudulent activities.
Elderly Ipoh Man Loses Nearly RM1 Million in Online Investment Scam
An elderly man in Ipoh, Malaysia, has fallen victim to an online investment scam, losing RM974,000 in the process. The 67-year-old’s ordeal came to light after he lodged a report with the Ipoh district police on January 11, 2025.
RM5.9M Lost to "Davidson Kempner Capital Management" Facebook Scam
A private contractor in Malaysia faced a devastating loss of over RM5.9 million after falling victim to a fraudulent investment scheme promoted on Facebook. Tempted by the scheme’s impressive claims and credentials, the victim began investing in September 2024. The investment process required him to download an application called A-Trade, which was readily available on the Apple Store.
RM62k Lost Investment Scam After Joining XRP Community Malaysia on Telegram
A 30-year-old homestay manager from Chendering, Malaysia, fell victim to an online bitcoin investment scam, losing RM62,214.59. According to Kuala Terengganu police chief ACP Azli Mohd Noor, the incident unfolded after the victim joined a Telegram group named “XRP Community Malaysia” on December 19. The group promoted bitcoin investments allegedly powered by Artificial Intelligence (AI).
Malaysia Pioneers Zakat Payments with Cryptocurrencies
Malaysia has taken a significant step in modernising religious practices by becoming the first country to enable zakat payments through digital assets.
Financial Educator “Spark Liang” Involved in an Investment Scam?!
A 54-year-old foreign woman lost her life savings of RM175,000 to an online investment scam that promised high returns within a short timeframe. The scam was orchestrated through a Facebook page named "Spark Liang."
Malaysian Pensioner Loses RM823,000 in Fake Investment Scam
A 61-year-old man from Batu Pahat, Malaysia, has fallen victim to a fraudulent investment scheme, losing a staggering RM823,000. Local authorities revealed that the man was lured through a Facebook advertisement promoting an investment opportunity with promises of substantial returns.
Investment Scams in Malaysia: Telegram Tops Scammers’ List
In the first 11 months of 2024, Malaysia recorded 5,685 investment scams, with Telegram emerging as the most commonly used platform for fraudulent activities.
Social Media Fraud: Over Half of Scams Linked to Meta Platforms
Social media platforms owned by Meta, including Facebook, Instagram, and WhatsApp, were linked to more than half of all scam incidents reported last year, according to a report by the Payment Systems Regulator (PSR).
Elderly Malaysian Businessman Loses RM704K to WhatsApp Investment Scam
A 73-year-old businessman in Malaysia has suffered a financial loss of RM704,000 after falling prey to a fraudulent investment scheme promoted on WhatsApp.
Beware of Celebrity Crypto Scams: Drake’s Social Media Account Hacked
Celebrity-backed cryptocurrency scams have been making headlines again, with fans of Canadian rapper Drake falling victim to a fraudulent memecoin scheme.
Housewife Loses RM752,398 in Crypto Investment Scam
A 47-year-old housewife from Malaysia has fallen victim to a fraudulent bitcoin investment scheme, losing RM752,398 of her savings in just one month.
Malaysian Man Loses RM120,000 to Facebook Investment Scam
A 51-year-old man from Jerantut, Pahang, fell victim to a Facebook investment scam, losing RM120,000 of his savings in the process. The scam, which operated under the name "Moomoo," falsely promised investors returns of up to 80% on their investments.
Malaysian Trader Loses Over RM1.6 Million in Investment Scam via WeChat
A 56-year-old trader from Gombak, Malaysia, recently lost more than RM1.6 million in a sophisticated online investment scam orchestrated through the popular messaging application, WeChat.
Malaysian Man Loses RM124,000 in Social Media Investment Scam
A 47-year-old Malaysian man fell victim to an investment scam, losing RM124,000 after being misled by a fraudulent scheme promoted on social media. The scheme, advertised on Facebook, promised high returns through an application called L-Trader, which the man was led to believe could generate millions in profits.
Fake Facebook Investment Scheme Costs Malaysian Man RM400K
A 60-year-old man from Johor became the latest victim of a fraudulent investment scheme, losing RM406,654 after being lured into what was advertised as a high-return opportunity on Facebook. The scheme, which promised a 10% interest return on invested capital within three months, proved to be a sophisticated scam that left the victim financially devastated.
Retiree Loses Over RM160K in Online Investment Scam After Withdrawing EPF Savings
A retiree from Pahang (Malaysia), lost RM163,300 to an online investment scam after withdrawing his Employees' Provident Fund (EPF) savings and selling his unit trust investments in pursuit of larger returns.
Malaysian Contractor Loses RM688K to Online Investment Scam
A 50-year-old contractor from Johor became the latest victim of an online investment scam, losing a staggering RM688,000 after being lured by an attractive scheme he discovered on Facebook. The scam, known as DFA, promised exceptionally high returns and involved an elaborate web of communication through social media and investment groups.
CySEC Launches Campaign to Combat the Risks of ‘Finfluencers’ on Social Media
The Cyprus Securities and Exchange Commission (CySEC) has introduced a new investor protection campaign aimed at addressing the growing impact of social media and financial influencers, or "finfluencers," on investment decisions.
Telegram Most Susceptible to Investment Scams
Investment scam syndicates are increasingly exploiting Telegram as their platform of choice to deceive unsuspecting victims in Malaysia
