Malaysia recorded RM5.37 billion in online scam losses from 2024 to May 2026, with investment, telecom and e-financial fraud making up over 90%.
PETALING JAYA: Malaysians suffered RM5.37 billion in losses due to various online scams between 2024 and May 2026, with non-existent investment scams accounting for nearly half of the total losses, the Home Ministry revealed.
In a written parliamentary reply, Home Minister Datuk Seri Saifuddin Nasution said fake investment scams recorded the highest losses at RM2.68 billion, representing 49.9% of the total amount.
“Telecommunications-related scams ranked second, with losses of RM1.54 billion (28.7%), followed by e-financial crimes at RM660.64 million (12.3%), e-commerce scams at RM250.81 million (4.7%), non-existent loan scams at RM138.92 million (2.6%), and love scams at RM111.08 million (2.1%).
“The three main categories — non-existent investment scams, telecommunications-related scams and e-financial crimes — accounted for more than 90% of total losses, amounting to RM4.88 billion,” he added.
Saifuddin said the role of the National Scam Response Centre (NSRC) had been strengthened as a one-stop centre, bringing together the expertise of the police, Bank Negara Malaysia (BNM), the Malaysian Communications and Multimedia Commission (MCMC), and financial institutions.
He said the NSRC’s 997 hotline enables swift action to block the movement of victims’ funds during the critical period, preventing money from being transferred out of the local banking system.
“From an enforcement perspective, the police have intensified intelligence-based investigations and financial forensic analysis, including tracking money flows, dismantling mule account networks, and conducting integrated operations and targeted arrests against scam syndicates.
“Enforcement efforts have also been strengthened through the implementation of Sections 424A to 424D of the Penal Code, which provide heavier penalties for online scam-related offences,” he added.
Saifuddin said the government was also strengthening strategic cooperation between the Royal Malaysia Police (PDRM), financial institutions, telecommunications companies, and domestic and international enforcement agencies through information sharing, joint operations, and technical support to improve prevention, detection, investigation, and prosecution capabilities against scam syndicates.
