On 18 March 2024, the New Straits Times(NST) reported a total cases of 34,497 cases of online scams amounting to RM1.2 billion loss in 2023.

Based on the 2023 statistics, the category with the highest recorded with 10,348 cases amounting to a total of RM352.9 mil was telecommunication such as SMS contest scams, online impersonation scams, and phone call scams.

Raising Awareness to Public

The National Scam Response Centre (NSRC) plays an important role in providing support to victims. In the year 2023, a total of 6,434 investigation papers were opened, amounting to a total loss of RM105.4 million.

To raise awareness among the public to stay cyber safe, 1610 exhibitions and 3,727 talks were conducted.

Our Advice

Countering online scams requires a combination of awareness, vigilance, and proactive measures. Here are steps you can take to protect yourself and your information:

1) Education and Awareness: Stay informed about the latest online scams and fraud tactics. Regularly update yourself on common scam techniques and how they evolve.

2) Verify Sources: Be cautious of unsolicited emails, messages, or phone calls, especially if they request personal information or financial details. Verify the identity of the sender before responding or providing any information.

3) Use Strong Passwords: Create strong, unique passwords for each of your online accounts. Avoid using easily guessable passwords and use a password manager to securely store and manage your passwords.

4) Enable Two-Factor Authentication (2FA): Enable two-factor authentication wherever possible, especially for sensitive accounts like email, banking, and social media. 2FA adds an extra layer of security by requiring a secondary verification method, such as a code sent to your mobile device.

5) Keep Software Updated: Regularly update your operating system, web browsers, and antivirus software to protect against known vulnerabilities and exploits.

6) Secure Wi-Fi Connections: Use secure Wi-Fi networks with encryption protocols like WPA2/WPA3. Avoid using public Wi-Fi for sensitive activities like online banking or shopping.

7) Be Wary of Links and Attachments: Exercise caution when clicking on links or downloading attachments from unknown or suspicious sources. Verify the legitimacy of the sender and the content before taking any action.

8) Review Privacy Settings: Regularly review and adjust the privacy settings on your social media accounts and other online profiles. Limit the amount of personal information you share publicly.

9) Monitor Financial Accounts: Regularly monitor your bank accounts, credit card statements, and other financial transactions for unauthorised or suspicious activity. Report any discrepancies to your financial institution immediately.

10) Report Suspected Scams: If you encounter a scam or suspicious activity online, report it to the appropriate authorities or organizations. This may include Bank Negara Malaysia (BNM), the Securities Commission, the National Scam Response Centre (NSRC), and the Cyber999 Cyber Incident Reference Center.

11) Stay Informed: Stay up-to-date on cybersecurity best practices and news. Consider subscribing to reputable cybersecurity blogs, newsletters, or alerts to stay informed about emerging threats and trends.

By following these steps and remaining vigilant, you can reduce the risk of falling victim to online scams and protect your personal and financial information.

Condition Zebra provides Cybersecurity Solutions and Cybersecurity Training for public and private SMEs in various industries, Financial Services (Banks and insurance), Government Ministries and agencies, and Government-linked companies.

Our mission is to utilize a unique strategy of combining key technologies with expertise in Information Security and Risk Management so that clients are fully prepared to prevent and deal with cybersecurity incidents.

Condition Zebra’s Managed Detection and Response (MDR) solution is a comprehensive cybersecurity service that utilises the real-time threat detection and response capabilities of an EDR or XDR to detect, investigate, and respond to cyber threats.

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34,497 online scam cases reported

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