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LABUAN: An individual in Labuan suffered losses amounting to RM5,480 after allegedly falling victim to a non-existent loan scam advertised through the Facebook application.

Labuan police, in a statement, said the victim was believed to have been deceived by a suspect offering an online loan before being instructed to make several payment transactions into bank accounts provided.

“Following the report received, the case is being investigated under Section 420 of the Penal Code for cheating, and further investigations are being carried out by the Commercial Crime Investigation Division of IPD Labuan,” the statement said.

In view of this, the public is advised to remain cautious of any loan offers on social media and not to make any upfront payments to unverified individuals or companies.

The spokesperson also said that the public is encouraged to verify suspicious bank accounts through checking platforms to avoid becoming victims of online scams.