KUCHING: A 46-year-old woman lost a total of RM255,834 after falling victim to a non-existent online investment scheme known as MML-MAX.
Kuching district police chief ACP Alexson Naga Chabu said the victim’s phone number was added to a WhatsApp group named ‘Merrill Lynch & Co Inc TA/TA’ on Aug 26.
The group promoted what appeared to be an online stock investment platform promising quick profits.
“After reading positive feedback from members in the group, the victim became interested and was instructed to download an application called MML-MAX,” he said in a statement.
Throughout the so-called investment, the victim made 15 transactions into six different bank accounts.
However, when she later tried to withdraw her displayed profits, she was given various excuses. Realising she had been duped, she lodged a police report.
Alexson said the case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property, which carries a jail term of up to 10 years, whipping, and a fine upon conviction.
He said that between Jan 1 and Oct 30, the Kuching Commercial Crime Investigation Division has recorded 92 similar cases, involving total losses amounting to RM10.73 million.
Alexson reminded the public to remain vigilant and refrain from entertaining online investment advertisements circulated via social media.
“Members of the public are advised to verify with the Royal Malaysia Police (PDRM) before making any transactions to third parties, or contact the National Scam Response Centre (NSRC) hotline at 997 to report online fraud,” he added.
