KUCHING, August 24, 2025 – A retiree in his 60s from Miri has fallen victim to a large-scale online investment scam, losing more than RM2.5 million in what police have described as a sophisticated digital fraud case.
According to Sarawak Police Commissioner Datuk Mancha Ata, the victim first came across an advertisement on Facebook in mid-April that promoted an investment opportunity through an application known as Stefelai. Enticed by the promise of lucrative returns, he proceeded to download the app and began transferring funds to what he believed were legitimate investment accounts. Over several weeks, the man made multiple transactions, amounting to a total of RM2.5 million, before discovering that the platform was fraudulent.
The incident underscores the growing threat of online scams targeting Malaysians, particularly retirees and individuals seeking alternative investments. Authorities have repeatedly warned the public against engaging with unverified platforms, especially those promoted through social media channels that exploit trust and lack of financial literacy.
Commissioner Mancha urged Malaysians to remain vigilant and to carry out due diligence before committing to any form of digital investment. He reminded the public that official resources are available to verify the legitimacy of financial products, including Bank Negara Malaysia’s website and Telelink service, as well as the Securities Commission of Malaysia’s portal and hotline. These channels provide updated lists of licensed operators and can help prevent potential victims from falling prey to increasingly sophisticated online fraud.
The case in Miri adds to a worrying trend of cybercrime in Malaysia, where online scammers are preying on unsuspecting investors by exploiting social media platforms and digital applications. Authorities have assured that investigations are ongoing, but they stress that prevention remains the most effective safeguard against such financial losses.
