Malaysia

Insurance agent loses RM252,000 to bank loan scam

50-year-old lady falls to fraudulent social media ad

Updated 5 years ago · Published on 27 Feb 2021 9:09PM

Insurance agent loses RM252,000 to bank loan scam

by Arulldas Sinnappan

KEPALA BATAS – A female insurance agent lost RM252,074 to syndicates who lured her on social media to secure a loan application.

Seberang Prai Utara district police chief Noorzainy Mohd Noor said the victim from Bertam Perdana here found a money lending advertisement from an online bank, and then signed in to send her personal details to borrow RM200,000.

He said she later received a WhatsApp message from a staff of the bank asking to make payment to qualify for the loan approval.

“When the victim agreed to borrow money for personal use, she was asked to make payments to the company including insurance payments for the loan application process,” he said.

Noorzainy said the victim was requested to make 25 money transactions amounting to RM252,074.00 and deposit it into 18 bank accounts.

“The victim was then asked to make additional payments to secure the loan. She only realised there was a problem when she called the bank to clarify when the bank would return the money,” he said.

The case is being investigated under Section 420 of the Penal Code for fraud, which carries a maximum jail term of 10 years and whipping or a fine, if convicted.

“The police don’t want the public to be duped by false advertisements and messages on social media. 

“People are also advised not to get any loans from advertisements posted on websites to avoid being deceived by scams and syndicates,” he said. – The Vibes, February 27, 2021

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