In 2024, Malaysia faced a staggering 35,368 digital financial scams, resulting in RM1.6 billion in losses—a 33% increase from the previous year. These scams ranged from fraudulent phone calls and scam messages to fake investment schemes promising high returns, evolving into a serious menace.
The Malaysian Communications and Multimedia Commission (MCMC) has been at the forefront of combating this crisis, including AI-generated deepfakes impersonating prominent figures.
Muhammad Amirul Hafiz Rosly, Head, Planning & Operations Division, MCMC discusses strengthening collective efforts to combat digital financial scams and protect the financial well-being of all Malaysians.
