Two individuals in Malaysia have suffered significant financial losses after falling prey to fraudulent investment schemes operating through mobile applications. The victims, a bank officer and a sales executive, lost a combined total of over RM2.33 million.
A bank officer and a sales executive have fallen victim to non-existent investment schemes, resulting in combined losses exceeding RM2.33 million. Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf revealed that the department received reports from the two victims last month. The 55-year-old bank officer lodged a report on January 25, stating that he had transferred RM1.87 million for an investment scheme through the 'UVKXE' app.
The 57-year-old sales executive filed a report on January 31, claiming she had invested RM466,800 in an investment scheme through the 'Arcadia Equity' app.Preliminary investigations indicate that the sales executive was enticed by the promise of a 70% return on her investment. She made 16 cash transactions into 10 bank accounts, totaling RM466,800, but never received the promised returns. Meanwhile, the bank officer was lured in through a WhatsApp message advertising returns ranging from 10 to 50%. He transferred RM1.87 million into 17 different bank accounts and was instructed to attend investment scheme-related events at a local hotel. However, upon arriving at the hotel, he discovered that no such event was planned, raising suspicions.Ramli stated that the police have received 41 reports, collectively amounting to losses of approximately RM28.3 million, related to these two investment schemes
Investment Schemes Fraud Losses Mobile Applications Malaysia
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
YTL Digital Bank Launches Ryt Bank, Malaysia's First AI-Powered Digital BankYTL Digital Bank Berhad, a joint venture between YTL Digital Capital Sdn Bhd and Sea Limited, has officially launched Ryt Bank, Malaysia's first AI-powered digital bank. The bank received its digital banking license and is set to commence operations from December 20, 2024. Ryt Bank boasts an AI-powered chatbot, Ryt AI, that simplifies banking services, delivers personalized financial insights, and manages advanced savings strategies. The bank emphasizes security, transparency, accessibility, and a commitment to serving the underserved population.
Read more »
Malaysia's First AI-Powered Digital Bank, Ryt Bank, to Launch in December 2024Ryt Bank, a joint venture between YTL Digital Capital Sdn Bhd and Sea Limited, has received its digital banking license and is set to commence operations on December 20th, 2024. Described as Malaysia's first AI-Powered Digital Bank, Ryt Bank aims to redefine banking with a customer-centric approach powered by artificial intelligence (AI). The bank will be launched in phases to ensure a smooth rollout. Ryt Bank's core offering is its Ryt AI chatbot, a ChatGPT-style AI-powered private banker designed to simplify banking services, deliver personalized financial insights, and manage advanced savings strategies. The bank emphasizes accessibility, security, transparency, and affordability, promising a seamless and innovative banking experience for Malaysians.
Read more »
Ryt Bank Set to Launch as Malaysia's First AI-Powered Digital BankRyt Bank, a joint venture between YTL Digital Capital Sdn Bhd and Sea Limited, has received its digital banking license and is set to commence operations on December 20th, 2024. Described as Malaysia's first AI-Powered Digital Bank, Ryt Bank aims to redefine banking in Malaysia by leveraging artificial intelligence to provide an unparalleled customer experience. The bank will be launched in phases to ensure a smooth rollout.
Read more »
YTL Digital Bank, Ryt Bank, Launches in MalaysiaRyt Bank, a digital bank backed by YTL Digital Capital and Sea Limited, has received its banking license and is set to launch in Malaysia. The bank will begin operations on December 20th, 2023, with a phased rollout to the public to ensure a smooth launch. Ryt Bank aims to revolutionize banking in Malaysia by leveraging artificial intelligence (AI) to provide a seamless customer experience and financial services.
Read more »
Warga asing miliki tiket loteri didenda RM2,000KUALA LUMPUR: Seorang penganggur warga Pakistan mengaku bersalah di Mahkamah Majistret di sini hari ini atas pertuduhan memiliki tiket-tiket loteri awam.
Read more »
Najib Says RM2.3 Million Cheques Issued From Personal Account for PM's Social Media, SpeechesDatuk Seri Najib Razak insisted that using his personal funds to pay RM2.3 million for social media management and speechwriting in 2013 was necessary to fulfill his official duties as prime minister and avoid burdening the government. He testified in his defence in the 1MDB trial, where over RM2 billion of the government-owned company's money allegedly entered his private AmIslamic bank accounts.
Read more »