A MALAYSIAN timber company director has reported losses approaching RM3 million after being duped by a fraudulent online job scheme, police confirmed. The 66-year-old man lodged a report at the Kuala Terengganu Police Station at 11:06 a.m. yesterday.
According to Kuala Terengganu Police Chief, Assistant Commissioner Azli Mohd Noor, the victim was first introduced to a purported business opportunity last May by a contact he knew via WhatsApp. The online platform presented a seemingly legitimate investment, promising returns of between 10 and 25 per cent on the capital invested.
Following the instructions provided, the victim transferred funds to 18 different bank accounts between June 10 and November 7 of last year, totalling RM2,946,799.
“The victim only realised he had been scammed when he was unable to transfer the funds from the platform into his own bank account,” Azli said.
“Upon discovering the fraud and the substantial loss incurred, the victim came forward to lodge a police report regarding the incident.”
Authorities confirmed that the victim’s funds were drawn from his personal savings. The case is being investigated under Section 420 of the Malaysian Penal Code for criminal breach of trust and fraud.
Police are urging members of the public to exercise caution when engaging with unfamiliar online investment schemes, particularly those offering unusually high returns and requiring transfers to multiple accounts.
This incident highlights the growing sophistication of online scams in Malaysia, as criminals increasingly exploit social media and messaging platforms to defraud unsuspecting investors. - January 12, 2026
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