LABUAN WOMAN LOSES OVER RM33,000 IN INSTAGRAM INVESTMENT SCAM

LABUAN, April 25 (Bernama -- A local woman has become the latest victim of an online investment scam in this duty-free island, losing a total of RM33,508.25 after being duped through a fraudulent scheme promoted on the social media platform Instagram.

Labuan police chief Supt Mohd Hamizi Halim said the 30-year-old woman was lured into the scam after coming across an advertisement on Instagram that promised lucrative returns through investment opportunities.

“Enticed by the offer, she contacted the account operator through WhatsApp, and was convinced to make multiple transactions into several bank accounts between January and April,” he told Bernama today.

He said the victim only realised she had been scammed after failing to receive any returns or updates regarding her supposed investment.

“Repeated attempts to contact the individual behind the Instagram account went unanswered, prompting her to lodge a police report on April 23 at 7.05 pm,” he said.

Mohd Hamzi said the victim initially made an investment of RM300 and received a return of 10 per cent, and later on, she made additional transfers from various accounts amounting to RM33,508.25 in phases, believing she was participating in a legitimate investment.

“On April 11, she attempted to transfer the profit from the amount of her investment but failed, as the investment runner told her there was a system error, and the woman started to feel she had been deceived,” he added.

The case is being investigated under Section 420 of the Penal Code for cheating, which carries a punishment of imprisonment for up to 10 years, whipping, and a fine if convicted.

He urged the public to remain cautious and avoid falling prey to seemingly attractive investment schemes promoted through social media, especially those that promise quick and guaranteed profits.

--BERNAMA