Beware & Protect Yourself 07 (Jun 23 - Jan 24)

[winston]

Housewife loses RM4mil to investment scam

A housewife lost RM4mil after being tricked into participating in a non-existent stock investment scheme that promised lucrative returns of up to 380%.

The JSJK received 5,389 reports on investment fraud last year, involving losses of up to RM472mil.

"Based on the records of 2023, 744 individuals or victims of investment fraud are aged 60 and above," he said.

Source: – Bernama

https://www.thestar.com.my/news/nation/ ... tment-scam

[behappyalways]

Workers scam trick to upgrade the use of AI to set up "beauty schemes", to deceive people to Thailand

打工骗局诱骗手法升级 动用AI设“美人计”骗人到泰国 | 八点最热报 26/01/2024

https://m.youtube.com/watch?v=jIUIooz6MLQ

[winston]

Retiree loses RM10.4mil

By FARIK ZOLKEPLI

Those with information on scams or have enquiries should contact the CCID hotline at 013-211 1222 or the National Scam Response Centre at 997, he added.

Source: The Star

https://www.thestar.com.my/news/nation/ ... s-rm104mil

[behappyalways]

One retail investor Mr Shi, who asked to be identified only by his last name, said he invested one million yuan ($139,466) in snowballs tied to CSI1000 index and discovered his products had hit the knock-in level on Monday.
When he bought the two-year products in early 2023, he was expecting to earn a return of at least 8%. But now, unless the index rises above the 7,000-level within a year -- implying a 40% rise from current levels -- he will earn no coupon and also lose some of his principal.


'Snowball' derivatives feed China's stock market avalanche
https://www.reuters.com/markets/asia/sn ... 024-01-23/

[winston]

Accountant loses over RM1mil to scammer

The victim, 42, downloaded a mobile app called “Fidelity Max” through Play Store after coming across an advertisement on social media in October last year.

“He made contact with an individual via WhatsApp, who shared with him tips on how to buy company stocks from inside and outside the country. The scheme promised high returns.

“After registering on the app, the victim made payments to a few accounts between last October and January this year,” he said in a statement here yesterday.

Comm Kumar added that the victim transferred a total of RM1.34mil.

Source: The Star

https://www.thestar.com.my/news/nation/ ... e=smartech