He told police that he was introduced to the scheme by a woman on social media whom he befriended last month.

Batu Pahat district police chief Ismail Dollah said the 68-year-old man claimed he dealt with the woman through Facebook and WhatsApp.

He said the victim was duped by the suspect to participate in an investment scheme with guaranteed profits.

“The victim was asked to download the ‘Nicshare’ app by clicking on a link she sent to his phone.

“The victim provided his information, including name, identity card number and bank account details for registration.

“The victim was also told how to operate the app and was told that he would gain profits according to his investment,” Ismail said in a statement.

He added that the victim then transferred money to seven different bank accounts between Aug 24 and Sept 21.

“The victim only realised he was cheated after not receiving any profits. He then lodged a police report,” Ismail said.