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FOREIGN students have been urged to exercise caution when dealing with online money changers following a currency-exchange scam that saw a Chinese MBA student lose RM20,580.
MCA Public Services and Complaints Department head Datuk Seri Michael Chong said the incident involved a scammer who used social media to deceive the victim, going so far as to falsify his identification number.
“The scammer used social media to cheat the victim. He even faked his IC number to deceive her. We are concerned that the fraudster may have cheated many others,” Chong said at Wisma MCA yesterday.
The victim, identified only as Jiang, sought help after being defrauded by Hoong Kah Wai.
Jiang had attempted to pay her tuition fees via the university portal on March 8 but faced repeated failures. Unable to complete the payment, she searched for an online money changer and found Hoong’s contact on Douyin, the Chinese version of TikTok.
Jiang met Hoong at Hotel Tenera in Bandar Baru Bangi at around 10.30pm the same day. Chong explained that Hoong showed Jiang a photo of his MyKad and allowed her to photograph it as proof of identity, convincing her of his legitimacy.
Jiang then transferred the funds to Hoong’s Alipay account at 11.17pm. Moments later, Hoong excused himself, claiming he was going to the toilet, and disappeared.
“Jiang only realised she had been cheated after she could no longer contact him,” Chong said, adding that Hoong had fled with an accomplice waiting outside.
A report was filed at the Bandar Baru Bangi police station on March 9. CCTV footage from the hotel reportedly captured the entire incident, though police later informed Jiang that the MyKad number Hoong provided was incorrect and possibly altered using artificial intelligence.
Chong also revealed that Jiang was not the only victim.
“The scammer had cheated several others, including at least two other Chinese students with RM5,000 and RM1,000 in losses, respectively. We urge foreign students and members of the public to use only licensed money changers and avoid unofficial channels promoted on social media,” he said.
Highlighting a growing pattern of such scams, Chong noted that since 2024, the department has recorded 16 cases involving Chinese nationals, with total losses amounting to RM580,000.
The warning comes amid rising concerns over the vulnerability of foreign students to online financial fraud in Malaysia. - March 18, 2026
