Saving Scheme Scam Manages to Amass Over RM4.4 MILLION From Victims Before Getting Exposed

If it sounds too good to be true, then it might just be a scam.

Recently, an organisation active since 2015 which offers a savings scheme has been unveiled to be a scam by the PDRM.

Royal Malaysia Police (PDRM) secretary Datuk Noorsiah Saaduddin said that they received 116 police reports nationwide on the scam known as ‘sapiza ekstra saving’. The losses amount to RM4,438,300.00!

In a statement on the PDRM Facebook page, she said, “Preliminary investigations found that the scheme has been active since 2015 by offering savings based on the ‘kutu’ system.”

In 2021, they introduced several new savings plans that go from RM250 to RM20,000 for 2 to 5 months.

“The new plans promised profits of 15 to 40% of the total money saved but since October 2022, the scheme operator failed to pay out returns to participants.”

Following this, eight people (6 women and 2 men) ages 31-37 were detained on 27 January in multiple states. Some of the assets that they managed to seize included a luxury vehicle, ATM cards, mobile phones and documents that are believed to be used for scamming activities, reported BERNAMA.

The PDRM secretary urged the public to do some checking with official websites such as the Semak Mule application, Bank Negara Malaysia’s alert list, and the Securities Commission prior to committing to any savings or investment plans.

Stay tuned for more updates!

Also read: JPJ: Beware Of ’Lesen Terbang’ Scams That Are Widespread On Social Media