RM1.3 Million Lost: Penang Manager Falls Victim to Online Investment Scam

Penang Company Manager Loses RM1.3 Million in Online Investment Scam A company manager in Penang, Malaysia, has fallen victim to an online investment scam, losing over RM1.3 million. The 46-year-old victim responded to an investment advertisement on Instagram in April 2025, leading to a series of transactions totaling the significant loss. According to Penang Police Chief Datuk Hamzah Ahmad, "The victim was contacted via WhatsApp by someone they believed to be a syndicate member, promising high returns in a short time." The victim made 21 transactions to four different bank accounts between April 27th and May 29th, 2025, before realizing the investment was fraudulent. This case serves as a stark reminder of the risks associated with online investments and the importance of due diligence before committing funds.