Government Officer Scammed Out of Over RM12,000 in Fake Forex Investment

A 58-year-old government officer in Malaysia has reportedly lost more than RM12,000 after falling victim to a fraudulent foreign currency exchange (forex) investment scheme that existed only online. Authorities have warned the public to exercise caution when engaging with unsolicited investment opportunities on social media platforms.

According to local Police Chief ACP Azli Mohd Noor, the victim first encountered the investment advertisement on Facebook on December 10. Intrigued by the promise of unusually high returns, the officer contacted the individual behind the post and received detailed information about the purported forex investment.

“The victim initially invested RM300 and was promised a profit of RM11,000 within two hours,” ACP Azli said. “Encouraged by this promise, he subsequently made several additional payments totaling RM11,771 over the period from December 11 to December 15, believing they were required to release the profits.”

The scheme followed a classic pattern often observed in online investment fraud. Victims are lured with small initial gains or promises of rapid returns, then pressured to make multiple follow-up payments under various pretexts, such as service fees, taxes, or administrative costs. Once the funds are transferred, the scammers disappear, leaving victims unable to recover their money.

The victim became suspicious after repeated attempts to withdraw the promised returns failed, prompting him to lodge a police report on December 16. The case is currently being investigated under Section 420 of the Penal Code, which covers cheating and fraud.

Authorities have reiterated the importance of verifying investment opportunities, especially those promoted online, and advised the public to avoid schemes that promise unusually high returns within short periods. They also emphasized that legitimate forex trading platforms operate under strict regulations and should be properly licensed.

The incident serves as a reminder that scammers continue to exploit social media to target unsuspecting investors, highlighting the need for vigilance, skepticism, and due diligence before parting with any funds.