An Old Man Got Scammed for RM3.8 Million to IMF Grant Scam

 

Here’s a quick financial lesson! IMF is a short form for the International Monetary Fund which is an organisation of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

In Johor, a 78 years old man was looted of RM3.81 million after he fell for a grant aid scam using the International Monetary Fund (IMF) name through social media. According to the police, he sent the money by 64 transactions to 10 bank accounts from last July to last December.

The Chief Assistant Commissioner of Johor Commercial Crime Investigation Department said the man believed he was cheated after he failed to secure the IMF aid grant as promised. He also said that the man was told that the aid grant offer had expired and he needed to make a new application.

“The police have initiated an investigation paper under Section 420 of the Penal Code for cheating which if convicted, could carry a maximum jail term of 10 years and whipping and fine,” said Mohd Salleh in a statement to Malay Mail.

Earlier investigations disclosed the victim was acquainted with an individual known as Freddie Khoo on Facebook last July. The suspect offered the victim the IMF Assistance Grant worth US$150,000 (RM605,000). The victim was then contacted through a voice call on WhatsApp.

Mohd Salleh urged the public to always double-check the background of any individuals they are dealing with, especially when it involves information with relevant parties such as Bank Negara on the existence of such aid grants that have been offered.

What is sad about this kind of scam is that it is always aiming for the older generations as they tend to be technology illiterate. We as the younger generation should guide them too to use the Internet wisely so that these scams can be avoided.

 

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