RM163,500 Vanishes in Fake Trading App as She Turns to ChatGPT for Answers

A human resources assistant manager in Nilai has lost more than RM150,000 after falling victim to an online investment scam that promised high returns through a non-existent stock trading platform and displayed fake profits worth hundreds of thousands of ringgit.

The victim, a woman believed to be in her early 40s, only realised she had been deceived after she was repeatedly unable to withdraw her supposed earnings. Her investment account was later blocked, confirming her suspicions that the scheme was fraudulent.

According to Nilai district police chief Superintendent Johari Yahya, the victim lodged a police report after becoming suspicious and seeking further clarification using ChatGPT, which helped her conclude that she had been scammed.

Police said the case was officially reported at 6.33pm yesterday at the Nilai Police Station complaint counter. The woman, an assistant manager at a private company, detailed how she was first approached on March 18 by an individual identifying herself as “Chloe Lau” through a social media platform.

The suspect allegedly introduced an investment opportunity involving stock trading, claiming it could generate unusually high and consistent returns. Attracted by the promise of significant profits, the victim downloaded a mobile investment application and began transferring funds into multiple bank accounts linked to the scheme.

Over time, she reportedly transferred a total of RM163,500. Although the application showed her account growing rapidly with substantial paper profits, she was never able to withdraw any of the money.

Police explained that the victim initially believed the profits were genuine due to the convincing design of the application and the rising figures displayed on the dashboard. However, repeated withdrawal attempts failed, raising doubts about the legitimacy of the platform.

The turning point came when she was ultimately unable to access her funds at all. After multiple unsuccessful withdrawal attempts, she realised she had likely been deceived.

Investigators believe the syndicate behind the scheme used fabricated profit displays to build trust and encourage continued deposits. Victims were shown inflated earnings on the platform, creating the illusion of successful trading activity, while actual withdrawals were blocked or delayed indefinitely.

Authorities said such tactics are commonly used in online investment scams, where fraudsters rely on psychological pressure and false performance data rather than real trading activity. These schemes often target individuals through social media introductions before moving conversations to private channels.

The Nilai District Commercial Crime Investigation Division has opened an investigation under Section 420 of the Penal Code for cheating. Police confirmed that efforts are underway to identify and locate the suspect involved in the case.

Superintendent Johari also reminded the public to exercise caution when approached with investment opportunities online. He advised individuals to verify any financial scheme with the relevant authorities before committing funds and to avoid sharing banking details with unknown parties.

He stressed that legitimate investment platforms are regulated and transparent, and warned that offers promising unusually high or guaranteed returns should be treated with suspicion.