Malaysians lose RM2.97bil to online scams

In Malaysia, online scams cost citizens RM2.97 billion in the previous year, according to Bukit Aman CCID director Datuk Rusdi Mohd Isa. The issue is a global one, constantly changing with advancements in technology, and scammers are increasingly employing artificial intelligence to trick their victims. Rusdi emphasized that combating scams requires a collective effort from law enforcement, banks, digital platforms, telecommunications companies, and every individual.

He stated that online crime has moved beyond traditional methods, now involving highly organized operations with specialized roles, from script preparation and victim data collection to money laundering through mule accounts and cryptocurrencies. To target victims, scammers exploit human psychology, often using fear and greed to prompt people to transfer money hastily without verifying the request.

Rusdi clarified that even highly educated individuals are not immune to such risks, as scammers now utilize sophisticated AI technology to target people from all walks of life. To address this cross-border threat, Rusdi proposed an integrated approach with four key components: law enforcement agencies, the banking system, digital platforms, and public awareness.

He advised Malaysians to remain vigilant at all times and not share banking information with unknown parties. In case of falling victim to a scam, the public is encouraged to contact the National Scam Response Centre at 997 immediately, enabling swift action to freeze the account and prevent funds from being transferred overseas.