Penang: A female stockbroker lost RM1.24 million to a phone scam syndicate that alleged she was under investigation for money laundering. Penang deputy police chief Datuk Mohd Alwi Zainal Abidin said the Commercial Crime Investigation Division of the Northeast district police headquarters received a report from the 47-year-old local woman yesterday.

According to BERNAMA News Agency, the victim reported that on June 20, while she was at her office in George Town, she received a phone call from an unknown number. The caller, claiming to be from Pos Laju Malaysia, informed her that a package in her name containing an identity card, ATM card, and cheque book had been detained by the police, having been sent from Kuching, Sarawak to Terengganu.

The call was allegedly redirected to a supposed police station in Terengganu, where another individual posed as a police officer. The victim was informed that her bank account was suspected of involvement in a money laundering case. The ‘police officer’ instructed her to surrender all her money for auditing, with assurances that it would be returned post-investigation. The woman was also threatened with an arrest warrant if she failed to comply.

In fear, the victim made 26 online fund transfers into five different bank accounts between June 26 and June 30, totaling RM1.24 million. Her suspicion was only aroused after discussing the situation with family members, who identified it as a scam, prompting her to file a police report.

Mohd Alwi stated that investigations are ongoing to trace the syndicate’s network, with the case being investigated under Section 420 of the Penal Code for cheating.