KUALA LUMPUR, Jan 27 — An elderly woman suffered a staggering loss of over RM10 million after falling victim to a fraudulent cryptocurrency investment scheme.

Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said that based on a police report filed yesterday, the 80-year-old retiree entered the investment scheme after being added to a WhatsApp group that promoted it.

"Through the group, the complainant engaged with a man who allegedly would advance his money for the purchase of cryptocurrency, and she was asked to make a repayment once the transaction was successful,” he said in a statement today.

Deceived by the tactics, the complainant made 13 payments totalling RM10 million to several bank accounts under the names of eight different companies.

She began to doubt the authenticity of the investment when asked to make additional payments for various reasons, he added.

Ramli said the case is being investigated under Section 420 of the Penal Code.

He also advised the public, particularly senior citizens, to exercise caution and not easily trust online investment offers promoted on social media.

"Before deciding to participate in an investment scheme, conduct checks with relevant agencies, including Bank Negara Malaysia and the Securities Commission Malaysia,” he said.

For further advice or information, the public can contact the nearest police station or the CCID Infoline at 013-2111 222. — Bernama