GEORGE TOWN, June 22 — A 66-year-old retired factory worker in Penang has fallen victim to an online investment scam, losing RM733,300 after being lured by promises of high returns within minutes.
The victim was contacted via text message in March by a woman claiming to represent a reputable investment firm, who convinced him to register on a bogus app called Falcon PE. Between March 7 and April 24, the victim made 25 transactions into three different bank accounts, only to realise the scam when he was asked for an additional payment to withdraw his supposed profits.
Penang police have launched an investigation under Section 420 of the Penal Code and reminded the public to verify investment platforms through Bank Negara Malaysia and the Securities Commission before committing any funds.
