Retiree loses RM118,000 in fake share investment scam
JOHOR BARU: A 66-year-old retiree lost RM118,000 in savings after signing up on a fake share investment website that led to unauthorised withdrawals from his bank and Touch ‘n Go accounts.
A 66-year-old retiree in Johor Baru has lost RM118,000 in a fake share investment scam. The victim, who became interested in investing in shares in early July, registered on a fraudulent website and provided personal details linked to his bank and Touch 'n Go accounts. Between July 28 and August 4, 16 unauthorized transactions totaling RM118,000 were made without his knowledge.
Nine transactions drained his bank account of RM77,702, while seven withdrawals amounted to RM40,298 from his Touch 'n Go account. Police are investigating the case under Section 420 of the Penal Code for cheating and Section 4(1) of the Computer Crimes Act 1997. If convicted, the offender could face up to 10 years in prison, whipping, and a fine.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
