National Scam Response Centre Reports Staggering RM1.34 Billion in Online Scam Losses

The National Scam Response Centre (NSRC) reports a staggering RM1.34 billion in losses from 33,234 online crime cases recorded between January and December last year. Investment scams top the list, accounting for RM437 million, signaling a concerning rise compared to the previous year, prompting Deputy Communications Minister Teo Nie Ching to emphasize the importance of public vigilance and caution.

29 January 2024 – The National Scam Response Centre (NSRC) has reported staggering losses of RM1.34 billion in 33,234 online crime cases recorded from January 1 to December 8 last year. Deputy Communications Minister Teo Nie Ching disclosed these alarming figures, emphasizing that they were based on reports from victims received through the 997 hotline, unveiling a concerning trend in the prevalence of various scams impacting individuals and businesses alike.

Teo Nie Ching further elaborated that these losses were attributed to six primary modus operandi, with investment scams standing out as the most lucrative for fraudsters, resulting in losses amounting to RM437 million. E-commerce scams followed closely, accounting for RM383 million in losses, while telecommunications-related scams contributed RM334 million. Other notable categories included e-finance scams (RM104 million), love scams (RM41 million), and non-existent loans (RM39 million).

Expressing concern over the surge in recorded losses compared to the previous year, Teo Nie Ching emphasized the need for increased vigilance among the public. She cautioned against falling for the deceptive tactics employed by online crime syndicates, particularly in the realm of high-return investment schemes.

Addressing the issue at a press conference after launching the SWM Kasih Red Packet Mission program in the Taman Desa Kulai Neighbourhood Watch Areas (KRT), Teo Nie Ching urged individuals to exercise caution in their online interactions. The program, undertaken in collaboration with SWM Environment Sdn Bhd, aims to support 50 low-income families during the upcoming Chinese New Year celebration. Each head of household is receiving daily necessities and RM100 in cash to assist with festive preparations.

In light of the rising threat of online scams, Teo Nie Ching emphasized the importance of public awareness and caution, urging individuals to report any suspicious activities promptly. The NSRC remains a vital resource in combating online fraud, and the government is actively working to enhance efforts to safeguard citizens against these financial threats. – ref: Bernama

Author: Terry KS

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