PETALING JAYA: The Bukit Aman Commercial Crime Investigation Department SemakMule database identified 160,095 bank accounts and phone numbers linked to scammers in 2023.
A study by the National Centre for Governance, Integrity and Anti-Corruption, based on data collected between January and September 2023, showed 54% of the 79,559 reported online scam cases involved individuals between the age of 21 and 40.
“These scams inflicted a staggering RM2.5 billion in financial losses on victims,” said the study.
A private university chief innovation and enterprise officer Prof Dr Vinesh Thiruchelvam said if the scamming issue is not promptly addressed, an increasing number of people will become victims.
“Various tech-related scams have surfaced, such as fake disaster relief e-payments, banking phishing emails, counterfeit antivirus pop-ups, love scams, formjacking on fake retail sites (cybercriminals injecting malicious codes into a website form page to capture sensitive user data) and travel frauds on platforms such as Pinterest and X.
“The advent of digital media has introduced sophisticated threats, such as voice cloning, the creation of deepfake images and targeted email schemes, which are all designed to deceive individuals either online or through mobile channels,” Vinesh said, adding that scammers have continually adapted their tactics in line with technological advancements.
“The emergence of ‘Voice AI’ has transformed into a tool for organised phishing, while deepfakes have been utilised to convert WhatsApp messages into convincing phone calls.
“AI’s capacity to automate tasks allows scammers to rapidly scour the internet for valuable data and information. This amplifies the scale and efficiency of their fraudulent activities.”
He said scammers often target specific demographics and sectors with tailored tactics, exploiting vulnerabilities in digital banking and payment systems.
“The elderly, who are increasingly engaging with social media and mobile apps, have become prime targets for personalised scams.
“Children under 15 face significant risks from social engineering schemes, which manipulate individuals into disclosing information or taking actions for fraudulent purposes.
“In these attacks, scammers breach authentication protocols and employ chatbots, which is an application designed to mimic human conversation through text or voice interactions to impersonate call centres, deceiving victims on a peer-to-peer basis.”
Vinesh said individuals could leverage conversational agents equipped with machine learning models to effectively detect and stop tech-driven scams.
“It is crucial to stay informed about emerging scam trends through professional resources and educate older and younger generations about cyber threats.
“Maintaining vigilance is key. This includes refraining from opening emails from unfamiliar sources, diligently securing personal data and consistently using unique passwords for access.”
He proposed looking for trust marks displayed at the footer or header of e-commerce checkout pages, indicating accreditation from reputable internet security entities such as Norton or McAfee to distinguish between legitimate online vendors and potential scam websites.
He also suggested inspecting the website URL in the address bar and verify its domain as well as check for a valid Secure Sockets Layer certificate.
“Be wary of pixelated images, grammatical inconsistencies in website content, unprofessional web design or dubious payment methods, as these are red flags that signal potential scams,” he said, adding that the future of tech-related scams is shaped by the dual growth of beneficial and malicious ICT applications.
“Emerging technologies in enterprise and entertainment are becoming prime targets and financial institutions using facial or voice recognition face deepfake threats.
“As scammers exploit blockchain vulnerabilities, crypto fraud is expected to rise.
“People need to be aware of this issue now to avoid becoming victims.”
