KUALA LUMPUR: Police have uncovered a new phone scam tactic in which fraudsters pose as bank officials to lure unsuspecting victims into fake investment schemes.
Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said that the latest scam resulted in an 85-year-old housewife losing over RM1.3 million.
"According to a police report lodged in Kuala Lumpur on Aug 27, the elderly victim received a call from an individual pretending to be an officer from a local bank.
"The scammer offered her a supposed fixed deposit investment scheme with an attractive 4.8 per cent annual dividend.
"Trusting the legitimacy of the offer, the victim was instructed to transfer all her savings, amounting to RM1,372,886.45, into two bank accounts under her name," he said at a press conference here today.
Ramli said the fraudsters then directed her to activate internet banking for both accounts and provide them access, under the pretence of managing the investment.
"The victim only realised she had been deceived when she discovered that all the money had vanished from her accounts," he added.
The case is currently being investigated under the Penal Code for cheating.
Ramli also warned that scammers often impersonate bank officials, police officers, court personnel, and other authorities to gain victims' trust.
"In these phone scams, it's common for the fraudsters to transfer the call from one 'agency' to another to make the situation seem legitimate. However, such practices are not part of the standard operating procedures of government agencies. No government agency will arbitrarily transfer calls to another agency," he said.
He advised the public to be vigilant when receiving suspicious calls, particularly those involving transfers between agencies.
"If you receive a call that raises doubts and is transferred from one 'agency' to another, it is likely a scam. Terminate the conversation or hang up immediately to avoid becoming a victim," Ramli urged.