A company director reportedly lost RM5.5 million in a foreign exchange scam involving transactions between Malaysian Ringgit and Vietnamese Dong. The victim engaged in 15 transactions with seven accounts but only received Dong worth RM900,000, far below the RM6.5 million exchanged.
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RM5.5 Million Lost in Forex Scam by Malaysian Company Director
Selangor police chief Datuk Hussein Omar Khan confirmed the suspect evaded payment with multiple excuses. The case is under investigation under Section 420 of the Penal Code for cheating. Hussein urged the public to avoid unregistered forex exchanges and use Bank Negara-approved companies. Awareness and caution are essential to prevent falling victim to similar scams.
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