Connect with us


M’sian Billionaire Loses RM21 Million to Macau Scam, Largest Fraudulent Case Targeted at a Person


Collage 33
Source: FinanceTwitter & Debt.org

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Scams are as old as time and you would think that we have grown familiar enough with them to avoid getting tricked ourselves. But alas, there is always an exception.

What started out as a seemingly harmless phone call back in November 2021 turned out to be not so innocent when it became apparent that it was to be the start of this Malaysian man’s misfortunes.

Hailing from Penang, this retired billionaire fell victim to what bank staff suspect is the “Macau scam”.

Macau Scams


In the span of 5 months, the man lost RM21 million to a group of scammers who were posing as bank and government officials.

According to China Press, the 63 year old man is a founder of his own domestic energy company and reportedly has a net worth of over RM100 million.


What went down

It all began in November of last year when the victim first received a phone call from the scammer claiming to be an official from the bank.

He was told that his card that was registered with the bank had been involved in illegal activities. Not being aware that it could be a scam, he simply denied the allegations.

Not one to give up easily, the scammers apparently ‘forwarded’ his case to another ‘official’, this time from the National Bank. It is uncertain if any transactions took place after these calls.

052D8A94 Bd29 48F8 A01C 7C4007B8E1F7


Fast forward to January 2022, the victim was contacted again. This time, he was asked to disclose his bank’s Transaction Activation Code (TAC) to assist in investigations.

Still thinking that it was ‘official’ business, the victim gave the scammers his TAC and that was the point of no return.

However in April, the victim checked his bank accounts and realised that two of his accounts have been frozen by the bank.

Apparently, someone had been transferring money from these two accounts into other unknown accounts from the end of 2021 till April 2022.

Istockphoto 1163040190 612X612 1


He later reported the issue to the police, who are now investigating the case under Section 420 of the Penal Code.

While cases like these seem as if it will never happen to us, it is still important to be alert should anything suspicious arises.

Take heed of any warning, or we might end up like the victim who apparently ignored the bank staff who warned him about being tricked by the Macau scam.


Have you ever received any fishy phone calls? What do you do in those scenarios? Let us know in the comments.


Also read: M’sian Shares How a Scam ‘Cleaning Service’ Stole RM18,700 From His Account Without TAC Number

Also Read 6

Source: Arc Technica
Source: iStock

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Just In

Collage 13 Collage 13
News28 mins ago

KJ Says The Market Price For RON95 is RM4.52 Per Liter & The Subsidy is to Curb Inflation

Just last night (July 6), the Ministry of Finance announced the latest fuel pricings , effective July 7 till July...

76Affc14 B10C 4D4C 8977 57A65Ba33B9D 76Affc14 B10C 4D4C 8977 57A65Ba33B9D
News3 hours ago

WATCH: Lorry Crashes Into Several Cars At Johor-Singapore Causeway Causing Massive Pileup

A Facebook netizen recently shared two videos of an accident that has occurred at the highway leading to Woodlands checkpoint....

2De38142 A33F 4A18 8C4B 917526027A12 2De38142 A33F 4A18 8C4B 917526027A12
News6 hours ago

JUST IN: Malaysian Man Tested Positive For Monkeypox In Singapore

According to Chanel News Asia, The Ministry of Health in Singapore (MOH) has confirmed that a 45-year-old Malaysian man residing...

Collage Baby Collage Baby
News21 hours ago

Baby Born To Brother & Sister Parents Dies Just Hours After Birth Due To Severe Genetic Defects

The birth of a baby is supposed to be a celebration, but sometimes, tragedy strikes, and the event becomes a...

My Post 2022 07 06T150310.133 My Post 2022 07 06T150310.133
News1 day ago

M’sian Singer Escapes Death Penalty As Cannabis Distribution Charges Dropped

Nasyid singer and composer, Muhammad Yasin Sulaiman is feeling thankful after the Magistrate’s Court acquitted him of charges on distributing...

Ft Iv Ft Iv
News1 day ago

Journalists Publicise UMNO Dept Chief Interview After He Denied Him Saying That Najib Should Go To Jail

Recently, in an interview with Asia Times, UMNO Deputy Chief Datuk Seri Mohamad Hasan, more popularly known as ”Tok Mat” had...

0B27Ce14 Ff64 448B 873E 168787Fbd445 0B27Ce14 Ff64 448B 873E 168787Fbd445
News1 day ago

Excessive Pesticide Residue Found In Mie Sedaap Noodle Cups Shipment To Taiwan

On July 5, it was reported that customs intercepted shipments containing items from Indonesia and Malaysia in Taiwan. This is because the...

Aa033Cba 2B52 4101 83C3 632D7632E872 Aa033Cba 2B52 4101 83C3 632D7632E872
News2 days ago

Flash Flood in Kedah Sweeps 8 Villages, Family Of 3 Washed Away by Floodwaters

On Monday (4th July), a flash flood in Baling, Kedah has entirely wiped out 8 villages, including 3 family members....


Latest Videos