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Scam alert. — DayakDaily.com file pic // Photo: PixabayAdvertisement
By DayakDaily Team
KUCHING, June 14: A 79-year-old local man has lost more than RM9 million after falling victim to a non-existent online share investment and initial public offering (IPO) scam known as “TBGIA”.
Kuching District Police chief ACP Alexson Naga Chabu said the Commercial Crime Investigation Division of the Kuching District Police Headquarters received a report involving the fraudulent investment scheme, which promised exceptionally high returns.
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According to police, the victim was approached by the suspect around January 2026 while at Jalan Pending here and was offered an opportunity to invest in shares and IPOs through the purported TBGIA platform.
Believing the investment to be genuine, the victim proceeded to transfer funds through 27 separate transactions into nine different bank accounts.
“The total amount transferred was RM9.082 million. However, the victim only received RM1,000 in returns,” Alexson said in a statement today.
The victim later realised he had been scammed after failing to withdraw either his purported investment capital or the profits displayed in the TBGIA application.
As a result, he suffered losses amounting to RM9.081 million.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property, which carries a penalty of imprisonment for a term of not less than one year and not more than 10 years, whipping, and a fine upon conviction.
Meanwhile, Alexson advised the public not to be easily persuaded by investment opportunities promoted on social media platforms and to conduct proper checks before committing any funds.
He urged prospective investors to verify the legitimacy of investment companies and websites through the lists maintained by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC).
Members of the public can also use the Investment Checker platform provided by the SC to verify investment entities, while checks on suspicious phone numbers and bank accounts can be conducted through the Check Scammers CCID application or the Semak Mule portal before making any financial transactions.
Alexson further reminded victims of cybercrime scams, including phone scams, love scams, e-commerce fraud and non-existent loan schemes, to immediately contact the National Scam Response Centre (NSRC) via hotline 997 if they have recently transferred money to a suspect’s bank account or e-wallet.
He also encouraged the public to follow the official social media accounts of the Commercial Crime Investigation Department, namely JSJK PDRM and Cyber Crime Alert RMP, for updates on the latest scam tactics and crime prevention information. — DayakDaily
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