Police said a 61-year-old former accountant in Johor lost RM469,875 after being duped by a fraudulent TikTok investment scheme promising high returns. — Reuters pic
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Thursday, 04 Dec 2025 12:37 PM MYT
JOHOR BAHRU, Dec 4 — An elderly man lost RM469,875 after falling victim to a fraudulent investment scheme advertised on the social media platform TikTok.
Johor Bahru Selatan district police chief ACP Raub Selamat said the 61-year-old victim, a former accountant, was initially attracted by an advertisement for Bursa Malaysia stock investments before contacting an individual who claimed to be an investment representative via WhatsApp.
“The victim was then added to a chat group with another individual who explained the investment method and instructed him to download an app before making transactions.
“The victim carried out 13 online banking transactions between October 8 and November 28, 2025 to several bank accounts, each registered under different company names,” he said in a statement today.
Raub said the suspect had promised returns of between seven and 15 per cent of the investment amount, but the victim only received a small profit of RM14,763 before being asked to make additional payments. The victim refused and eventually realised he had been scammed.
Raub said the case is being investigated under Section 420 of the Penal Code for cheating, which carries a sentence of one to 10 years’ imprisonment, whipping and a fine upon conviction.
He advised the public to be cautious of investment advertisements on social media and to verify information through the Semak Mule portal, as well as the websites of the Securities Commission and Bank Negara Malaysia, before making any investments.
Members of the public with information on the case are urged to contact the Johor Bahru Selatan District Police Headquarters at 07-2182289 or any nearby police station. — Bernama