Malaysia suffered its biggest financial scam losses in three years in 2025, with RM2.77 billion lost in that year alone, the Home Ministry said in a written parliamentary reply yesterday.

The jump brought total losses from online and financial scams between 2023 and 2025 to RM5.62 billion, highlighting what authorities described as a growing and increasingly sophisticated threat.

The ministry said scams involving phone calls, romance schemes, e-commerce fraud, fake financing offers, and non-existent loans or investments remained the most prevalent.

Losses amounted to RM5.64 billion from 2023-2025

Malay Mail reported that losses stood at RM1.28 billion in 2023, climbed to RM1.57 billion in 2024, and surged again last year.

Enforcement stepped up to fight scams

Police are stepping up enforcement using existing laws, including Sections 424A to 424D of the Penal Code, which provide for heavier penalties reflecting the seriousness of such offences, the ministry said.

“Strategic cooperation is also being undertaken between the police, financial institutions, telecommunications companies, and both local and international enforcement agencies,” it added.

These efforts focus on information-sharing and technical support to strengthen prevention, tracing, investigations and prosecutions against scam syndicates.

At the same time, authorities are reviewing potential amendments to the Penal Code, the Communications and Multimedia Act, and money laundering-related legislation to expand enforcement powers.

“This will allow for stronger penalties and asset seizures against online scams, including action against mule account holders or agents and other parties involved in scam activities,” the ministry said.

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