ALOR SETAR: A retired teacher lost RM838,000 after investing in a fake investment scheme offered via WhatsApp in February.

Kedah Commercial Crime Investigation Department head Supt Loi Yew Lik said that after agreeing to participate, the 72-year-old victim’s name was added to the “P166 HIFA investment” WhatsApp group.

“The victim had dealt with an individual known as Helen via WhatsApp and was then given a link to download an application (PHC VIEW) from ‘Pinnacle Horizon Capital’ to check the profits received from the investment.

“He was promised a return of five times the amount invested within a few days,” he said in a statement on Monday (June 30).

He said the victim told police he had deposited a total of RM838,000 via eight transactions to four different bank accounts.

“Through the app, the victim saw that he had earned a total ‘profit’ of RM4.09mil.

“However, when he wanted to withdraw the money, various excuses were given, including asking him to make an additional payment,” he said.

Supt Loi said the victim then lodged a police report after realising he had been scammed.

He advised the public to be wary of online investment scams that use the names of existing investment companies to mislead victims.

He added that seven investigation papers had been opened in Kedah over such scams.

“The public is advised to check with the police or nearby police stations before making any suspicious transactions.

“Checks can also be made via the Semak Mule application, CCID Facebook or by contacting the National Scam Response Centre (NSRC) at 997,” he added. – Bernama