How a Viral TikTok Scam Cost a Retiree Over RM300,000

A 66-year-old woman in Malaysia has lost over RM311,000 after falling for a fake stock investment promoted on TikTok.

According to Pahang police chief Datuk Seri Yahaya Othman, the woman was told to download a mobile application linked to the so-called investment. Between 5 January and early April, she transferred her savings in 16 different payments to six separate bank accounts.

The scam began to unravel when the investment app suddenly stopped working. The woman was then told to send more money to release her funds, with scammers claiming it was needed to clear banking “risk controls.” At that point, she realised something was wrong and filed a police report. The case is now being investigated for cheating under Section 420 of the Penal Code.

This incident shows a growing problem: social media is becoming a popular tool for investment scams. Many scammers use platforms like TikTok, Instagram, and Facebook to promote fake opportunities. They often appear as successful traders or financial coaches. Some show pictures of luxury cars or big profits to appear trustworthy. Others post fake reviews or pretend to be connected to well-known figures.

These scams usually start with small promises. Victims may be shown fake results to make them believe their investment is growing. Once the scammers gain their trust, they ask for more money. By the time the victim starts asking questions, its often too late as the money is gone, and the scammers disappear.

One common trick is asking victims to use unofficial apps or websites. These apps may look real, but they are designed to steal personal and banking details. In many cases, the scammers also make up extra charges to delay withdrawals and keep victims sending more money.

Police and financial experts warn the public to be careful with any investment offer found online. They say it is important to check if a platform is registered with financial authorities and to avoid dealing with unlicensed individuals.

Older adults are often the main targets of these scams, as they may be less familiar with how social media scams work. Social media can make investing seem easy and exciting. But behind a flashy video or a friendly message, there may be a scam waiting to happen.