Beware! Malaysian Investment Scams Recently Emerged on Telegram Group Chats

Investment scam group chats proliferating on Telegram are invasive, victimizing more people. Meanwhile, BrokersView remains committed to exposing these scammers who prey on innocent investors’ money, safeguarding the public’s personal property.

Recently, our team has uncovered three more scams targeting Malaysian investors. These scammers operate on Telegram, intentionally leading investors to believe they’ve discovered a lucrative money-making opportunity. However, unbeknownst to these investors, the seemingly attractive investment opportunity is nothing but deception.

Scam 1: PoiinPay Malaysia / RoyalQ

Victims who reported the ‘PoiinPay Malaysia’ scam to BrokersView were initially looking for an avenue to earn extra income but nevertheless fell into the scammer's trap.

After joining a group chat created by the scammers, the victim noticed people showing photos of cash they claimed to have earned through "investments". The seemingly lucrative investment opportunity attracted the victim and made him take the initiative to contact an administrator, trying to understand the money-making approach.

He was very satisfied with the investment plan sent to him, so he got an account and invested RM1,000 under the guidance of the administrator.

However, just like other fixed-income investment scams, the money flows into the trap and never back. The victim did not earn a penny and did not get back the investment capital that belonged to him. What awaited were the lies and pretexts that obstructed him from withdrawing and tricked him for more money.

From the screenshots of the account provided by the victim, we also found a familiar brand name - RoyalQ, which is an investment scam that BrokersView has exposed before. So, the criminals behind the scams may be the same gang.

Scam 2: S.A.M Trade genesis malaysia / SamTrade FX

Another victim who was also deceived by Telegram's fake investment information wanted to alert the Malaysian public about investment scams through BrokersView.

After investing a total of RM11,000 in several rounds of "SamTrade FX", he eventually found himself a victim of an investment scam.

SamTrade FX promised incredibly high returns compared to the legitimate financial services and products. However, the victim, who was unfamiliar with the financial market, did not realize the abnormality at first and just followed the scammer's instructions to "invest." Fortunately, his son realized in time and stopped him from transferring more money to the scammers, thus avoiding more serious losses.

Scam 3: Maybank Islamic Syariah

Another similar investment scam is "Maybank Islamic Syariah".

The scammers create investment groups that appear to be sharing investment insights, but their "recommendations" are actually creeping into the information you receive.

"Maybank Islamic Syariah" deliberately uses the bank's influence to make investors think that the investment scheme is related to Maybank. However, at a glance of the principal and return they advertise, it cannot be a legitimate investment, but only a scam.