Have you ever had the experience of being invited by a stranger to an unfamiliar group chat? When faced with such a situation, would you stay in the group to see what the others are discussing or quit?
Recently, a victim of investment fraud told BrokersView that her nightmare began when she was invited to an "investor group chat" by a scammer. The scammer led her step-by-step to "invest" in Amanah Saham Malaysia and swindled her out of almost all of her savings.
Upon joining the group chat, the victim realized the group was discussing a financial company called Pelaburan Saham Malaysia. This company promised investors almost insane deposit requirements and profit - a minimum deposit of only RM100 while a maximum profit of RM170,000 to be made.
If such an investment opportunity really existed, then everyone would want to take advantage of it and make a fortune. Unfortunately, it is impossible to have such a good business in the trading market. And beginners forget this fact once they are overwhelmed by crazy profits.
After the introduction, the victim deposited RM100 and opened an account on the broker named Amanah Saham Malaysia. It is worth noting that the victim never participated in any of the trades herself since the company falsely claimed to have a professional trader to trade on her behalf after receiving her funds.
A few hours later, the investor was notified that her account with Amanah Saham Malaysia had made a profit of RM11,750, which satisfied her and made her intend to withdraw.
Before withdrawing the money, the company informed her to pay a brokerage fee of RM550. This sounded reasonable, as the victim was not involved in any of the trades, and the "profit" was earned by the traders. So RM550 was not that expensive, and the victim decided to pay the fee.
When she thought she had her money, the company asked her to pay a "deposit for the exchange of US dollars to ringgit", which amounted to RM1,200. The victim was hesitant and did not pay the fee as quickly as before. Seeing that she was skeptical, the scammer continued to lure the victim with profits, telling her that if she did not pay, she would miss out on the profits. Unable to withstand the coaxing of the fraudster, the victim finally paid the "deposit."
But the scammer would not relent. After transferring RM1,850 to the scammers, the victim still did not see any hope of withdrawal. She was faced with repeated requests for payment from the broker, which almost wiped out her savings, and finally realized the nature of the scam.
Pelaburan Saham Malaysia is also known by the names Pelaburan Amanah Malaysia and Amanah Saham Malaysia, all of which are "regulars" on the Investor Alert List of Securities Commission Malaysia (SC) and have been warned by the SC on several occasions since 2021, with several social media accounts and telegram groups being exposed.
According to the SC's warning, the scammer deceived investors by promising unrealistic profits and misusing the legal information of some compliant companies.
Scammers using this trick are common in Malaysia with most of the victims being novice investors. The fact that this company has been warned several times in three years but is still active in the market leads us to believe many of these investors have been victimized.
Investors are advised to ask BrokersView about the regulatory status of the broker before investing to protect their money.