June 25, 2024
How Are Digital Scams Being Addressed? Earlier this year, it was reported that victims of online scams have collectively lost up to a total of RM3.2 billion between 2020 and 2023 in Malaysia1. Common types of digital scams currently include phishing, formjacking, identity theft, fake anti-virus software and malware. In an effort to curb such scams, our former finance minister had this month2 called for a law holding financial institutions and telecommunication companies (telcos) partially liable for financial losses resulting from digital scams to be introduced in Malaysia.
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