KUALA LUMPUR, Oct 5 — The federal police has revealed that Malaysians have lost close to RM2 billion to online crimes from 2021 to September this year, with the amount increasing yearly.
Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf told New Straits Times (NST) that the amount was based on the average number of online crime cases reported for the past three years which was about 20,000 cases.
“However, the total losses recorded showed a significant increase from RM560.9 million in 2021 to RM687.6 million last year.
“For the period from January to September this year, the amount of losses recorded involving online crime cases reached RM687.7 million,” he said in his keynote speech that was published in the English language newspaper.
Ramli was representing the Inspector General of Police (IGP) Tan Sri Razarudin Husain in conjunction with the 13th International Conference On Financial Crime And Terrorism Financing (IFCTF) 2023 at the Kuala Lumpur Convention Centre (KLCC) here yesterday.
Ramli said the establishment of the National Scam Response Center (NSRC) is a step to combat online criminal activities.
He explained that the NSRC was established through a collaboration between the National Financial Anti-Crime Prevention Centre, the police, Bank Negara Malaysia and the Malaysian Communications and Multimedia Commission (MCMC).
Ramli also pointed out that all agencies and stakeholders can play an optimal role in controlling and combating financial crime and terrorist financing.
“The development of technology is driven by the advancement of the internet and artificial intelligence (AI), a phenomenon that has become part of today's way of life.
“Various industries including banking have adapted to this progress to improve the quality of services provided.
“Vigilant measures should always be taken to deal with the negative impact that may occur,” he was quoted as saying.
In August, it was reported that the cumulative losses involving cases of online crime are projected to reach up to RM1.2 billion by the end of this year if there is still a lack of awareness among the public.
Home Minister Datuk Seri Saifuddin Nasution Ismail said the projection was obtained from the National Social Council’s paper, among which was a report on scammers.
“This means this crime is getting more serious, so the police should heighten public awareness so that people are not tempted nor fall for scams,” he was reported saying.
Saifuddin also added that if the trend of online crimes keeps rising, the amount of losses will surpass conventional crimes such as vehicle theft.
The IFCTF 2023 conference was organised by the Asian Institute of Chartered Bankers and Compliance Officers Networking Group.
The three-day conference that ended yesterday gathered security, banking and investigation professionals from around the world.
