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A Malaysian retiree loses $387,000 to a Facebook investment scam, highlighting a surge in fraud.
A 67-year-old retiree from Malaysia lost RM1.7 million ($387,000) to an investment scam on Facebook through a platform called "UVKXE Investment."
The victim, lured by promises of high returns from a fraudulent "Prof Lim," invested in stocks and cryptocurrencies.
Realizing the scam when returns didn't come, the case highlights the surge in investment frauds, with over RM260 million lost this year.
Police advise caution with online investment schemes and recommend verifying their legitimacy.
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