60-Year-Old Housewife In Port Dickson Loses RM476,100 In Investment Scam

The victim was told to download an application called 'Froza' and deposit money into certain bank accounts.

Cover image via New Straits Times & AFP/New Straits Times

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A 60-year-old housewife in Negeri Sembilan lost about RM476,100 after falling for an investment scam through a fake investment application

According to The Star, Port Dickson district police chief Supt Aidi Sham Mohamed said the victim claimed to have received a message from an unknown Facebook page offering a free financial management book on 3 October.

The elderly woman clicked on the link and was added to a WhatsApp group called 'Family Discussion' and was asked to download an application to open a savings account.

"The victim was told to download an application called 'Froza' and deposit money into certain bank accounts by the group administrator. After that, she had to upload the slip through the application site as proof," Supt Aidi said in a statement on Tuesday, 22 November.

Image for illustration purposes only.

Image via AFP/New Straits Times

Showing interest in the investment scheme, the victim carried out 17 transactions between 1 and 17 November, and later also deposited cash into two different bank accounts allegedly belonging to a company

Aside from her savings, the woman had also borrowed cash from her children and friends to invest.

"However, her account was blocked when she wanted to withdraw her interest payment," said the police chief.

"The group administrator told her that she would have to deposit a further RM427,200 if she wished to withdraw the interest."

The woman became suspicious and eventually didn't do so.

It suddenly hit her that she was duped and she went to lodge a police report at the Teluk Kemang police station on Monday, 21 November

The case is being investigated under Section 420 of the Penal Code for cheating, which entails a sentence of one to 10 years in prison, whipping, and a fine if convicted.

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