Scam victims recover just 1pc of RM1.23b lost over past decade, Parliament told

According to figures presented in Parliament, financial scam victims have only managed to recover around 1.1% of the RM1.23 billion stolen by fraudulent syndicates over the past decade. This amounts to roughly RM14 million in recovered funds. Out of 18,213 victims logged by federal police e-finance crime registries between 2016 and August 2026, each victim faced an average loss of approximately RM67,500.

Since its establishment in October 2022, the National Scam Response Centre (NSRC) has facilitated the return of RM14.01 million to affected depositors. This year, authorities have made significant strides in asset recovery, seizing RM9.14 million in illicit transactions and restoring RM6.67 million to victims, representing nearly half of all funds recovered during the NSRC's four-year operational history and roughly 73% of total assets impounded over an eight-month period.

The Ministry emphasizes the importance of immediate action within the crucial "golden hours" to trace and freeze funds before seizure and return to victims. Authorities have also filed 1,754 criminal charges related to financial scam offences over the past decade, leveraging financial forensic tracking to dismantle money-mule rings and penalising those who facilitate unlawful bank accounts and payment instruments.

Collaboration between law enforcement and various institutions, such as Bank Negara Malaysia, telecommunication carriers, and international partners like Interpol and the Asean Cybercrime Cooperation Programme, is essential for combating cyber fraud and enforcing immediate account freezes and the termination of syndicate phone numbers.