By DayakDaily Team
KUCHING, Feb 24: A 57-year-old local man has lost RM1,108,784 after falling victim to an online investment scam involving a non-existent platform, FYCMAX.
Kuching District Police chief ACP Alexson Naga Chabu revealed that the victim received a WhatsApp message on Dec 9, 2025 offering a “lucrative” FYCMAX investment.
“Intrigued by the promised profits, he joined the FYCMAX VIP WhatsApp group and was instructed to download the FYC application and communicate with several group administrators.
“Believing the scheme to be legitimate, the victim transferred money 23 times into four different bank accounts, totalling RM1,108,784. He realised he had been defrauded only when he could not withdraw his funds along with the promised profits,” Alexson said in a statement today.
The case is being investigated under Section 420 of the Penal Code, which deals with cheating and dishonestly inducing delivery of property. Conviction carries a jail term of one to 10 years, whipping, and may include a fine.
Alexson urged the public to remain vigilant against online investment scams and to verify the legitimacy of any investment opportunity before transferring funds. — DayakDaily
