IPOH: A former sales director lost 1.85 million ringgit after falling victim to a non-existent stock investment scheme advertised on the TikTok application in early July.
Perak police chief Datuk Noor Hisam Nordin said the 50-year-old man contacted the phone number displayed in the advertisement and later communicated with the scammer via WhatsApp.
The victim proceeded to make 23 payment transactions totalling 1,855,100 ringgit into three bank accounts provided by the suspect after being enticed by the offer.
He only realised he had been cheated after failing to withdraw the promised profits from the investment scheme.
The victim lodged a report at the Ipoh District Police Headquarters yesterday regarding the financial scam.
Police are investigating the case under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property.
Noor Hisam advised the public to be vigilant with any form of investment offered through unregulated websites or applications that are unauthorised by relevant authorities.
He emphasised the importance of verifying investment opportunities through proper channels before transferring any money.
This case highlights the growing trend of investment scams being promoted through social media platforms targeting unsuspecting victims.
Authorities continue to warn against responding to unsolicited investment offers that promise unusually high returns with minimal risk. – Bernama