A 75-year-old company director in Perak, Malaysia, lost RM1,470,734 to an online investment scam. He was contacted by a woman on April 15th and offered a partnership in a non-existent business, supposedly established in 1989. Lured by a 30% commission on luxury goods sales through a downloaded app, he made an initial payment of RM22,122. Between April 17th and May 16th, he transferred a total of RM1,470,734 into six different company bank accounts. He realized the scam after receiving no returns and filed a police report on Sunday.
