Malaysia central bank announces new measures to combat financial scams

The governor additional that BNM may continue to inform the public on the latest scams-related information through a brand new dedicated Facebook web page, Amaran Penipuan (Scam Warnings).  

Speaking exact same event, Inspector-General of Police Acryl Sani Abdullah Sani mentioned online scam instances in Malaysia were on an upward development.  

He explained that these instances involved online product sales scams, online trading scams, African frauds, Macau scams, company email compromise frauds, fake loans and SMS scams.

He noted that in 2019, an overall total of 13, 703 of these scam situations were reported, concerning losses of RM539 million (US$117 million). However , in 2020, there were 17, 227 cases with RM511. 2 million within losses recorded.

Mr Acryl Sani added that in 2021, the numbers have increased, along with 20, 701 rip-off cases and failures amounting to RM560. 8 million.

He noted that will between January plus July 2022, there were more than 12, 000 scam cases reported with losses amounting to more than RM400 million.  

Meanwhile, other than economic scams, there are also reports of Malaysians dropping for overseas job scams lately.  

Duped by profitable job offers in countries like Cambodia and Thailand, they were whisked illegally to the country, stripped of the travel documents and forced to scam others.

As of last Monday, Wisma Putra said 143 Malaysian victims had been preserved from Cambodia, 16 from Thailand, twenty-seven from Laos plus five from Myanmar.