A marketing officer has lost RM343,190 after falling victim to an online investment scam that promised unusually high returns of 20 to 30 per cent within just 24 hours.
The 46-year-old woman lodged a police report yesterday after realising she had been deceived into transferring her life savings to a fraudulent scheme.
According to police, she came across the so-called investment opportunity while browsing social media in September and was later instructed to download a mobile application linked to the scheme.
She proceeded to make 13 separate transactions to 10 different bank accounts, after being shown what appeared to be profits that had grown to about RM1.5 million on the platform.
However, she was later unable to withdraw any of the supposed earnings, prompting her to realise she had been scammed.
District Police Chief ACP Tan Seng Lee said the scam syndicate operated through an application known as “Shugoa AI Investment”, which was used to lure victims with promises of fast and high returns.
He said victims were told that profits would be credited directly into their in-app accounts, but access would be blocked once withdrawal attempts were made.
The case is being investigated under Section 420 of the Penal Code for cheating, which carries imprisonment, whipping, and a fine upon conviction.
Police have urged the public to be cautious of investment offers that guarantee unrealistic returns within a short period and to verify such schemes through official channels.
Authorities also reminded the public to use verification tools such as the National Scam Response Centre (NSRC), CCID Infoline, and Semak Mule before engaging in any financial investments.
