How My Dad Got Scammed RM75,000 — And What It Taught Me

It was just another weekday. I was busy working when my brother messaged me something I’ll never forget: “Dad got scammed.”

At first, I thought he meant a small scam. Maybe a fake seller. RM50, maybe RM200 tops.

But no—this was big.

RM75,000 gone.

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Table of Contents

How It Happened

Over the past few months, my dad had been managing renovations for his new property. That meant lots of calls with contractors, suppliers, and payments being made left and right. The perfect setup for a scammer to sneak in undetected.

One day, someone pretending to be a contractor called him. The scammer sounded just familiar enough and caught him in the middle of his busy day. They kept him on the phone for 10 minutes—just long enough to extract all the information they needed to get into his main bank accounts.

Within those few minutes, the scammer:

Drained his joint savings account
Emptied his foreign currency account
Even cleared out the redraw facility from his home loan

The only thing left untouched? His Unit Trusts, which were luckily locked in for 3 months. That might’ve been the only silver lining.

What shocked us even more was who it happened to—my dad holds a Doctorate in Business Administration, with a specialisation in finance and economics. He has published research on Malaysian REITs and has spent decades studying and teaching financial strategy.

He’s always been the one advising us about money. Yet, even he fell for it.

That One Call Changed Everything

I took emergency leave from work and called my mum who was at work to break the news.

She was so shocked she couldn’t even speak.

My brother stayed home to keep an eye on her while I helped my dad make police reports and contacted the banks.

That week, both of my parents had their accounts frozen.

With RM75,000 wiped out, we were financially suffocated.

I had to step up and cover all our bills, groceries, and day-to-day expenses on my fresh grad salary. My brother was still a student. I was suddenly trying to support a family of four and juggle three property expenses.

We survived because both of my parents were still employed, and thankfully we stabilized within a month.

But the emotional and financial scars? Those ran deep.

What I Learned From Watching My Dad Get Scammed

Here’s what this entire experience taught me—lessons I hope you never have to learn the hard way like we did.

1. Smart, Street-Savvy Adults Can Still Be Scammed

My dad isn’t new to responsibility—he’s spent years managing rental properties, handling money, and making smart decisions. But modern scams are crafted by manipulators who prey on urgency and trust, not just naivety. He was caught off-guard at the wrong moment, like anyone could be.

Lesson: Being experienced doesn’t make you immune. Stay alert—scams target your attention, not your intelligence.

2. Financial Experts Aren’t Immune to Scams

My dad is more than financially literate—he has a doctorate in business, has published investment research, and teaches finance and economics. Yet, even with all that expertise, he still got scammed. Why? Because scams don’t challenge what you know—they hijack how you feel.

Lesson: Financial education can’t fully protect you. Scams work by exploiting emotion, not logic.

3. Always Verify Before Responding

The scammer pretended to be a contractor—someone my dad thought he already knew. From now on, I never trust unknown numbers or urgent calls. I ask for names, companies, and I always call back using verified numbers.

Lesson: Slow down. Verify everything before reacting.

4. Don’t Keep All Your Money in One Basket

My dad’s accounts were all linked to online banking. Easy access = easy target. The Unit Trusts survived only because they weren’t liquid.

Lesson: Spread your money around—some in locked investments, some in separate banks, some offline. Accessibility should come with security.

5. Emergency Buffers Need to Be in Separate Names

When both my parents’ accounts got frozen, we had nothing to fall back on. That’s when I learned the value of having emergency funds in separate names/accounts—like your sibling’s, partner’s, or even a trusted friend’s.

Lesson: You need a backup for your backup.

6. Your Income Alone Can’t Carry Everyone

Overnight, I became the family’s financial fallback. And I wasn’t ready. That stress made me realize how fragile our finances were. Everyone in the family needs to work towards some level of financial independence.

Lesson: Don’t be the only lifeboat—make sure everyone has one.

7. Trauma Ripples

The emotional impact wasn’t just on my dad. My mum was devastated, my brother was overwhelmed, and I was exhausted. Scams don’t just drain bank accounts—they drain mental strength.

Lesson: Talk openly about money and security as a family. Financial literacy is a team sport.

8. In Emergencies, Act Fast—And Stay Calm

Once we found out, we moved quickly. We froze accounts, filed police reports, and called the banks. It was intense—but reacting fast helped limit more damage.

Lesson: Know the steps. Keep a checklist somewhere on how to report scams and freeze access.

9. Scars Create Systems

That one traumatic week forced us to rethink everything. We added two-factor authentication, set transaction limits, split up our savings, and even taught my parents how to recognize scam signs.

Lesson: Don’t let the pain go to waste—use it to build stronger systems.

Final Thoughts

It’s wild how quickly life can flip from normal to chaos. One phone call changed my dad’s—and our entire family’s—financial story.

If there’s anything I want you to take away from this, it’s this: Don’t wait for a crisis to build your financial safety net. Scammers are getting smarter. You have to be smarter too.

Protect your money. Educate your family. Set up systems now—not later.

Because once it happens, no amount of “if only” will bring the money back.

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