Elderly Accountant Scammed out of RM460,888 in Bitcoin
im to a fraudulent Bitcoin investment scheme promising high returns. The victim, a 61-year-old accountant, reported to the Seri Alam District police chief, ACP Mohd Sohaimi Ishak, that she was lured into the scam through a Facebook ad for a platform called ‘PFOU.’ Upon clicking the link, she was roped into a Bitcoin investment group where she received convincing explanations about the investment scheme offering quick and substantial profits.
As retirement approached in December, the victim decided to invest in the scheme. She was directed to download an app named ‘UVKXE’ to track her investments and profits. Between December 30 and January 16, she made three payments totaling RM460,888 to two different bank accounts. The ‘UVKXE’ app displayed her investment transactions, revealing profits of USDT1,219,907.6624, around RM5.5 million. However, when attempting to withdraw the profits, she was asked to pay a management fee of RM550,152.35. Suspecting foul play, she refused to pay and reported the incident to the authorities.
The case is under investigation for cheating under Section 420 of the Penal Code, which carries severe penalties including imprisonment, caning, and fines. Additionally, authorities are looking into potential involvement of money mule accounts under Section 424 of the Penal Code, punishable by fines, imprisonment, or both. Mohd Sohaimi advised the public to remain vigilant against the increasing threat of online scams and cautioned against investment schemes promising effortless and significant returns.
This unfortunate incident underscores the prevalent risks associated with online investment scams targeting vulnerable individuals, especially senior citizens. Perpetrators often exploit people’s desire for financial stability and security, enticing them with promises of high profits and quick gains. These scams operate through sophisticated platforms and persuasive tactics, making it challenging for victims to discern the fraudulent nature of such schemes.
Authorities recommend exercising caution and conducting thorough research before engaging in any investment opportunity, especially those guaranteeing unrealistic returns. It is crucial to verify the legitimacy of investment platforms, seek advice from reputable financial advisors, and refrain from sharing personal or financial information online. Educating oneself about common tactics used in scams and staying informed about potential risks can help individuals protect their financial assets and avoid falling victim to fraudulent schemes.
In conclusion, the case of the senior citizen accountant who lost RM460,888 serves as a cautionary tale about the perils of online investment scams. By raising awareness about these fraudulent schemes and promoting financial literacy and vigilance, individuals can safeguard themselves from falling prey to malicious actors seeking to exploit their trust and financial resources. Vigilance, skepticism, and due diligence are essential in navigating the complex landscape of online investments and protecting oneself from falling victim to fraudulent schemes.
