Five more in Kuching claim cheated by fraudulent investment scheme tied to BSN employee, RM595,000 lost

KUCHING (Dec 3): Five more individuals have come forward claiming they were cheated of RM595,000 by a fraudulent investment scheme linked to a Bank Simpanan Nasional (BSN) employee, bringing reported losses to around RM1.6 million.

Democratic Action Party (DAP) Sarawak chairman Chong Chieng Jen said the victims met with him after learning about the case through media reports.

He said some of them had invested in the purported scheme as early as September 2024 and even renewed their placements, believing it to be an official BSN investment product promoted by the employee.

“It was only last week when the fraud news broke out that they went to BSN to check on their investment. Thereupon, they were informed that the bank has no record of their investments and that all the money that was supposed to be invested in the investment schemes has been misappropriated by the employee,” Chong said in a press statement.

The victims have since lodged police reports and filed their claims with the bank.

He said the modus operandi in these latest cases mirrored earlier complaints, where the employee allegedly instructed victims to withdraw cash from their BSN accounts before pretending to invest the money on their behalf.

Each victim was later issued a fake ‘official BSN receipt’.

“Some of the victims have been informed by the officer of the bank that the bank will try to pay their losses within 14 days from the date of their claim,” Chong said.

In total, 11 victims have now approached him with combined losses estimated at RM1.6 million.

He said more individuals may have been defrauded using the same method and urged them to verify their investment status with BSN branches as soon as possible.

He also commended BSN for its swift response in handling the matter and prioritising the concerns of those affected.

“I will follow up closely on the cases reported to me until the victims get their money back,” he added.

Related story: Kuching couple loses RM400,000 to re-investment scam