Malaysian and Singaporean regulators have recently taken a significant step to combat telecommunications scams that have inflicted substantial financial losses on citizens of both countries.
Singapore’s Infocomm Media Development Authority (IMDA) and the Malaysian Communications and Multimedia Commission (MCMC) signed a memorandum of understanding (MOU) on February 25 in Barcelona, Spain, at the Mobile World Congress.
Reports from Nikkei Asia highlight the severity of the issue, with Singaporeans reportedly losing S$651.8 million last year, averaging around S$110 per person. Similarly, Malaysians suffered losses amounting to RM287 million in 6,003 cases of phone scams in 2020.
The primary aim of the agreement is to bolster the exchange of “strategic intelligence” across borders to combat scams conducted via telecommunications channels, particularly through phone calls and texts. This collaborative effort seeks to implement a coordinated regional approach to better protect citizens from falling victim to such fraudulent activities.
Key areas of cooperation outlined in the MOU include providing regulatory assistance and cooperation related to scam telephone calls and text messages, conducting research and education initiatives on scam prevention, and facilitating the mutual exchange of knowledge and expertise through training programs and staff exchanges.
IMDA emphasised the importance of strong cooperation among countries in tackling online scams, which are a cross-border issue. Singapore and Malaysia have a history of successful collaboration on various fronts, including cross-border enforcement actions against scammers.
The MOU was signed by MCMC chairman Tan Sri Mohamad Salim Fateh Din and Lew Chuen Hong, chief executive of IMDA. Additionally, both countries plan to share knowledge and expertise through training programs and staff exchanges. Singapore already has similar agreements in place with countries like New Zealand, the US, and Australia.
With an increasing number of scammers taking advantage of developed networks to perpetrate schemes involving jobs, e-commerce, and investment, this collaborative effort between Malaysia and Singapore aims to better equip authorities to combat telecommunications scams and protect citizens from financial harm.
