MIRI: A man in his early 40s here has lost more than RM257,000 in an online investment scam after weeks of contact with a woman who promised high returns through a purported stock trading scheme.
Miri district police chief ACP Mohd Farhan Lee Abdullah said the Commercial Crime Investigation Division received a report on Apr 26, with the case now being investigated under Section 420 of the Penal Code for cheating.
Police said the victim was first approached in early March through the social media application RedNote before the conversation shifted to WhatsApp, where the suspect introduced what was presented as a lucrative online investment opportunity.
The victim was persuaded to download an application known as “Everwise” from the Google Play Store and instructed to channel funds into multiple accounts as part of the investment process.
Over several weeks, he carried out 17 transactions to four separate bank accounts.
It was only after repeated demands for further payments, without any returns materialising, that the victim realised he had been defrauded. The total losses amounted to RM257,408.
Investigators say the case reflects a common pattern in online investment scams, where victims are gradually drawn in through sustained communication and assurances of guaranteed profits before being pressured to commit increasing sums of money.
Police urged the public to exercise caution when dealing with unsolicited investment offers, particularly those that promise high returns within a short timeframe.
Authorities recommend verifying the legitimacy of investment schemes through official channels such as Bank Negara Malaysia and the Securities Commission Malaysia, both of which maintain updated alert lists of unauthorised entities.
Victims of cyber fraud are advised to act immediately by contacting the National Scam Response Centre on 997, especially if transfers have just been made, to improve the chances of tracing and recovering funds.
Members of the public can also check suspicious phone numbers and bank accounts through the Royal Malaysia Police’s “Semak Mule” portal or the Commercial Crime Investigation Department’s “Check Scammers” database before making any financial transactions.
Police say such scams continue to evolve in sophistication, often exploiting trust built over time on social and messaging platforms, and warn that early verification remains critical in preventing financial losses.
