The Securities Commission Malaysia has claimed that a total of 67,552 scam cases involving losses worth RM2.23 billion were reported from 2017 to June 2021. This is surely a sobbering statistic, which would also mean that each Malaysian in the country is being cheated by these scruplous tactititions every 30 minutes. Among the common modus operandi of the scammers involved impersonation from banks, authorities, e-commerce businesses or investment “Scammers will contact you and disguise themselves as authorities or banks and ask for personal information to transfer money. Or they will give a cheap offer to buy expensive items and ask you to pay first, then they will not make the delivery, ”said the commisiion. Biggest scam loss is from bankers impersonating as investment officers and guaranteeing high return on investment without any risk are among the most commonly used scams. Citizens are advised to be more aware of such incidents and to check the information in advance through official channels from the said banks or authorities mentioned before entertainging such calls, messages or emails. If they find suspicious activities they can report to the police.
