Financial Loss

[maxx55]

@cookie1720 Is your mom old enough to withdraw her KWSP savings? If yes, please keep an eye out. A lot of times people who have been scammed once, fall for another scam right after that because they’re stressed out and irrationally think that they need to somehow recoup their losses. It clouds their judgement.
Try to never take out all KWSP savings at one go, it’s not uncommon for people to spend or lose it all in the blink of an eye when they suddenly access large sums of money which they have never experienced before. Only withdraw small sums monthly to use for living expenses, and keep the rest in to continue earning interest. It can help your mom to stretch her savings a bit.

 

[cookie1720]

@maxx55 Yes, next year she would be able to withdraw her kwsp. She told me she would give her kwsp money to me to keep but i don't think that's a wise choice. Lets see how next year :/

 

[maxx55]

@cookie1720 I don’t think that’s necessary, it would be safer if she keeps her kwsp money in her account instead and just withdraw some amounts enough for use. I would think kwsp’s security is better than banks, harder to get hacked. But it’s a good sign, shows that she trusts you, thus unlikely that it’ll occur again.

That said, please don’t feel too burdened - a parent’s financial worries is a heavy responsibility to bear, especially when you’re just getting started in life. Your mom is lucky that she has you and your siblings looking out for her. Work hard, take care of yourself, and things will get better for your family OP

 

[cookie1720]

@maxx55 Thank you for your kind words buddy appreciate it

 

[dandylionel]

@cookie1720 First thing, DO NOT scold them. Just let out a big sigh and say what's gone is gone. Being angry or emotional won't change the outcome of things. There were people who lost RMxxxK and upwards due to scam, gambling, investments, you name it. Your mom's is a very cheap lesson compared to theirs. Just tell/convince them make sure to consult you before transferring money to strangers next time. I wish you and you family all the best.

 

[cookie1720]

@dandylionel Yes, learned the hard way. :/ thank u buddy

 

[ovixs90]

@cookie1720 It a lost if you dont learn anything from it

 

[cookie1720]

@ovixs90 Yes, learned the hard way huhu

 

[illios26]

@cookie1720 Educate her about common scam , phising tactics

share news about scam to her

 

[cookie1720]

@illios26 We keep on spreading on scam awareness to her. But not sure why this time she falls into the trap.

 

[mattmanticus]

@cookie1720 Take it as expensive lesson

 

[cookie1720]

@mattmanticus Yes

 

[katy777]

@cookie1720 Be wary of recovery scammers. People will reach out to you and claim that you can get the money back.

Do not give them any money.

 

[cookie1720]

@katy777 Yes thank u for ur advice

 

[cewilliams]

@cookie1720 Lodge a police report. And to check up on her wellbeing from time to time because I’m sure it’s a horrible experience to have to go through.

 

[cookie1720]

@cewilliams Yup, i did keep on track with her wellbeing.

 

[tirzah85]

@cookie1720 Move on, i lost some too not so long ago. My father lost 6 digits too years ago, he moved on and do even better. People can say its just me coping but its only the end of the world if i think its that way.

The way i think of it is it is just a small amount compared to my financial goal.

 

[cookie1720]

@tirzah85 Dayum, how did your father coped it though? Just curious.

 

[tirzah85]

@cookie1720 Nothing lol. He just realised he made mistakes, but never stop working hard. Its one of the reason i look up to him, insane mental strength.

 

[headbanger]

@cookie1720 Sorry to hear about the loss, at the end of the day, after doing all the relevant reports and finding ways to recover the money, I would take it as an expensive tuition class. Can't be helped.