Kuching woman loses RM339,486 in online investment scam

KUCHING (Jan 18): A 40-year-old woman here suffered losses amounting to RM339,486 after falling victim to a non-existent online share investment scheme.

Kuching district police chief ACP Alexson Naga Chabu said the incident occurred when the victim, a local, invested in the ‘Navis Wealth’ share investment scheme she discovered on Facebook while at her home on Dec 3 last year.

“The victim later received a link to download and was added to an investment-related WhatsApp group,” he said in a statement on Saturday.

Believing the scheme to be legitimate, she made payments to three separate company bank accounts in stages, involving 22 online transfer transactions.

The victim began to suspect that she had been defrauded after being unable to withdraw the investment profits displayed in her ‘Navis Wealth’ application account.

Alexson said the case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property.

The section carries a prison sentence of one to ten years, caning, and may also include a fine upon conviction.

Alexson urged the public to check the list of licensed entities on the Securities Commission Malaysia website (www.sc.com.my) and to exercise caution, avoiding social media investment offers that promise high returns.

Additionally, anyone who realises they have been defrauded and suffered losses should lodge a report with the National Scam Response Centre hotline by dialling 997 within 24 hours.

He also urged the public to report any suspicious activity to the authorities via the Commercial Crime Investigation Department (CCID) Sarawak hotline, by message, or WhatsApp at 011-62890089 or [email protected].