KUALA TERENGGANU: A businessman incurred losses of RM688,300 after falling victim to a nonexistent investment scam.
Terengganu Police Chief Datuk Mazli Mazlan said the victim expressed interest in joining an investment scheme on Bursa Malaysia, which was advertised on Facebook.
The victim was then provided with investment details through a link using the Accerx System website.
"Through this website, the victim could make investment transactions and view graph movement statistics on Bursa Malaysia.
"The victim proceeded to make payments totaling RM688,300 through 19 transactions into 12 different accounts, with a promised profit of RM2 million upon reaching the maturity date on Jan 24, 2024.
"After the promised period, the victim wanted to withdraw the profits and was asked to make a withdrawal payment of one per cent of the profit."
Mazli said because the victim did not make the requested payment, the latter was blocked from accessing the Accerx System website again, realising he had been deceived.
The victim then reported to the police on Jan 31.
"The public is advised to always be cautious of non-existent investment schemes and not easily be swayed by investment scams promising substantial profits.
"Based on statistics released by the Terengganu Commercial Crime Investigation Department from Jan 28 to Feb 3, a total of 136 reports were received compared to 115 reports the previous week, marking an increase of 21 cases.
"Out of the total, 36 investigation papers were opened, with a combined loss amounting to RM1,095,762," he said.