National Scam Response Efforts Show Promising Start In Malaysia

By Siti Baaqiah Mamat

KUALA LUMPUR, April 8 (Bernama) -- Establishing the National Scam Response Centre (NSRC) and the National Fraud Portal has yielded early signs of success in combating the rising number of scams and fraud cases reported in recent years, said Bank Negara Malaysia (BNM).

Its deputy governor, Adnan Zaylani Mohamad Zahid, said the central bank had observed some improvements and noted a decline in reported cases, attributing it to increased public awareness about the risks associated with online scams.

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He said the efforts, which involve not only the central bank but also commercial banks and relevant enforcement authorities, are part of a growing and coordinated response to an increasingly sophisticated scam landscape.

The deputy governor said that fraud and scams have been a growing concern.

“When we have regional engagements, even with businesses, they have stories about being scammed out of hundreds of thousands of ringgit.

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“I mean these are small businesses and people who are vulnerable, such as retirees in particular,” he said at the forum titled ‘Inclusive Financial Well-Being: The Role of Financial Capability and Social Finance’ here today.

The event was held in conjunction with the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) and related meetings.

Adnan Zaylani further said the central bank has expended a lot of effort to counter fraud and scams with media campaigns, especially during the festive season when people tend to lose their sense of control in spending.

“Awareness has increased (in realising) that we are all somewhat at risk of clicking something that we should not in our emails and WhatsApp messages and that our data can be stolen or our IP used,” he said.

To keep pace with the ever-changing methods used by fraudsters, Adnan Zaylani said the authorities are continuously updating their strategies, stressing that public cooperation and ongoing vigilance are essential in curbing scam activities.

Established in October 2022, NSRC serves as a rapid response call centre and coordinating operations centre to combat online financial fraud, with expertise in tracking transferred funds, including cases involving the impersonation of NSRC officers to deceive victims.

-- BERNAMA