In this scam, the fraudster will pose as a foreign collector of old Malaysian coins and offer to pay a premium price for them. They will often use social media platforms or online marketplaces to find potential sellers.
Once the transaction is agreed upon, the fraudster will claim to have transferred the money for the coins. However, they will then say that the payment was blocked or held up for some reason. This is a tactic to gain the seller's trust and make them believe that the payment will eventually go through.
The fraudster will then go a step further and ask for the seller's personal details, such as their name, address, and bank account information, under the guise of needing to complete the transaction. This is where the scam becomes more dangerous, as the fraudster now has access to the seller's personal and financial information.
After a few days, the seller will receive a call from someone claiming to be from Bank Negara or the police. This person will inform the seller that the transaction is being investigated for potential fraud and offer to help resolve the issue. The fraudster may also pose as this authority figure to make the scam seem more convincing.
The seller will then be asked to provide additional information, such as their bank account details, to help resolve the issue. In reality, this information is being used by the fraudster to steal the seller's identity or money.
It is important for people to be aware of these types of scams and to never share personal or financial information with strangers online. If you believe that you have fallen victim to a scam, it is important to report it to the authorities and take steps to protect your personal and financial information.