In this day and age, scammers have become extremely creative in their pursuit of cheating unsuspecting victims of their money, and this has even spilled over to the simple of act of exchanging foreign currency.
A company director found himself becoming millions of Ringgit poorer after he was duped of his money while looking to change some Ringgit into a different currency.
M’sian man loses RM5.5mil in foreign exchange scam
In a statement by Selangor police chief Hussein Omar Khan, he said the 42-year-old victim was trying to convert some Ringgit into the Vietnamese dong in order to pay his employees’ wages.
He then sought the help of a man who hailed from Miri, Sarawak, who had helped him with currency conversions in the past at smaller amounts, reported FMT.
Hussein said police investigations revealed that in late March, the victim wanted to convert RM6.5 million. However, he only received RM900,000 worth of Vietnamese dong.
“He was then asked to make 15 payments to seven bank accounts. When he noticed that the suspect began giving many excuses and avoided paying him the balance, that was when he realised he was been cheated.
“The case is now being investigated under Section 420 of the Penal Code for cheating,” he said.
Hussien also called upon the public to be on their guard whenever they exchange foreign currencies and to do so via companies registered with Bank Negara Malaysia (BNM).
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