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Woman Loses RM5,700 In ‘Old Coin Collector’ Scam

SCAM alert!
Editor
06 Nov 2019, 07:00 AM

Main image via Nestia + WatsDis

We don’t know about you but we’ve seen those messages and comments from “old money collectors” almost everywhere on social media.

While many of us realise that this is some sort of a scam, there are still people out there who are falling or have fallen victim to them. Like this housewife for example.

via GIPHY

According to reports, a housewife from Kuantan has claimed that she lost RM7,500 from selling her old coins to an unknown individual last month.

The 36-year-old victim noted that she had received a WhatsApp message from a man who went by the name “Mr Kaypaul,” who was looking for old coins in exchange for cash.

"The victim was drawn to the high price offered by the man and agreed to sell her old coins for RM5,000 with the agreement that the payment would be made on the same day” said Pahang Commercial Criminal Investigation Department chief Supt Mohd Wazir Mohd Yusof.

woman loses rm5,700 in ‘old coin collector’ scam

woman loses rm5,700 in ‘old coin collector’ scamImages via Instagram

"At 1.26 p.m., the suspect informed her that the money had been transferred into her account, but she had to pay the administrative fees before she could withdraw it as it was an overseas transaction, ” the department chief said.

Believing what the suspect had told her about the money transfer, she deposited the “administrative fees” 20 times into four different accounts provided by the suspect. This brought her total to RM7,500!

The victim started to become suspicious when she did not receive any payments for the coins and she then decided to lodge a police report at the Temerloh District Police Headquarters.

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Investigations are currently being conducted under Section 420 of the Penal Code which provides for a prison sentence of up to 10 years and caning, and can be imposed a fine, if proven guilty.

So if you know anyone who would fall victim to this scam, share this with them! And if you’re thinking of responding to those comments/texts that keep appearing on your socials, maybe ignoring them would be a much cheaper option…

Info via The Star

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