Two retirees lose RM750,000 after falling for investment scams;
KUALA LUMPUR: She lost more than RM500,000 of her retirement savings to an investment scam. Amira (not her real name) is now struggling to pick up the pieces and hopes her ordeal will warn others against making the same mistake.
Two Malaysian retirees have lost substantial amounts of money from their retirement savings due to investment scams. Amira, a 69-year-old woman, lost over RM500,000 to a scheme promising high returns. She had deposited nearly RM900,000 from her EPF savings into a bank account and was lured into multiple investment schemes by an agent.
Bukit Aman warned that syndicates are using increasingly sophisticated methods to make fraudulent schemes appear legitimate, including impersonating genuine investment companies and using fake testimonials. Noor, a 65-year-old retiree, lost RM250,000 after investing her EPF savings in a bogus scheme. She trusted an agent she had known for years and believed the investment would generate income for her early retirement.
Both women emphasized the importance of being cautious and conducting thorough checks before investing, as investments that promise unusually high returns quickly should be approached with skepticism.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
