‘Astute’ app investment scam costs Sibu civil servant over RM404,000

SIBU (Feb 26): A woman in her 30s lost RM404,045 after falling victim to a non-existent online investment scheme promoted on social media.

Acting Sibu police chief Supt Boniface Bajai said the Commercial Crime Investigation Department received a report on Feb 24 regarding the case.

“The victim, a local civil servant, claimed she was attracted to an investment advertisement on Facebook in October last year using the name ABS (Akademi Pelaburan Saham ABS) and the ‘Astute’ application.

“She was later contacted via Messenger and asked to join a WhatsApp group known as ‘T-91-ABS’,” he said in a statement.

He said a suspect, who introduced herself as an assistant to an ‘investment guru’, communicated with the victim and provided stock recommendations.

At the initial stage, the syndicate is said to have refunded 80 per cent of a small loss amounting to RM15.20, which boosted the victim’s confidence in the scheme.

The victim was then encouraged to open an investment account through the ‘Astute’ application and instructed to transfer money into three bank accounts.

She made 18 transactions totalling RM404,045 into the accounts.

The victim only realised she had been duped when she attempted to withdraw her supposed dividends but was instead asked to pay 20 per cent of the purported profits before the withdrawal could be processed.

Unable to retrieve her money, the victim subsequently lodged a police report.

Police have opened an investigation under Section 420 of the Penal Code for cheating.

Boniface advised the public to be cautious of investment offers promising high returns and to verify the legitimacy of companies and websites with Bank Negara Malaysia and the Securities Commission Malaysia.

He also urged the public to contact the National Scam Response Centre (NSRC) on 997 for immediate assistance in case of scam incidents and to check suspicious bank accounts and phone numbers through the relevant online platforms before making any financial transactions.