A 55-YEAR-OLD man from Kuching has lost RM287,000 after falling victim to a fraudulent share investment scheme advertised on social media, police said today.
Kuching district police chief Assistant Commissioner Alexson Naga Chabu said the victim was lured by an online advertisement for a purported share investment programme on Facebook while at his home in Kuching in March.
After contacting the suspect, the victim was persuaded that the investment would generate substantial returns within a short period.
Believing the offer to be genuine, the victim made a series of payments between April and May 2026.
“During that period, the victim carried out 11 transactions into six different bank accounts provided by the suspect, involving a total of RM287,000,” Alexson said in a statement.
After completing the payments, the victim was unable to contact the suspect and did not receive the promised returns, prompting him to realise he had been deceived and to lodge a police report.
The case is being investigated under Section 420 of the Penal Code for cheating and dishonestly inducing the delivery of property, an offence punishable by imprisonment of between one and 10 years, whipping and a fine upon conviction.
Alexson advised the public to exercise caution when encountering investment opportunities promoted on social media and to verify their legitimacy with Bank Negara Malaysia and the Securities Commission Malaysia before making any financial transactions.
He also encouraged potential investors to use the Investment Checker and Check Scammers CCID applications to verify investment schemes and urged victims of cyber fraud to immediately contact the National Scam Response Centre (NSRC) via hotline 997 to improve the chances of freezing fraudulently transferred funds. - June 30, 2026
