Malaysia Loses RM3.6 Billion to Commercial Crimes in 2024

Malaysia has lost RM3.6 billion to commercial crimes during the first nine months of 2024, according to reporting by NST Online. This significant figure underscores the growing threat that fraud, scams, and financial crimes pose to individuals, businesses, and the broader economy.

Commercial crimes encompass a wide range of illegal activities, from online fraud and phishing scams to investment schemes and identity theft. The scale of these losses demonstrates that no sector of society is immune, and both consumers and business operators must remain vigilant.

Understanding the Risk

The RM3.6 billion loss represents real money taken from real Malaysians—money that could have been used for education, healthcare, housing, and other essential needs. Each case represents not just a financial setback, but often emotional distress and damaged trust.

Commercial crimes often target:

• Online shoppers and e-commerce users
• Job seekers responding to employment offers
• Investors seeking returns on their savings
• Business owners conducting transactions
• Bank customers through phishing and impersonation

Scammers continuously evolve their tactics, using sophisticated technology and social engineering to deceive victims. They may impersonate government agencies, banks, employers, or trusted companies to build credibility before requesting money or personal information.

What to Do

If you suspect you are a victim of commercial crime or have encountered a scam:

• Contact the National Scam Response Centre (NSRC) immediately at hotline 997. This is the official channel for reporting scams and receiving guidance from authorities.
• File a report with the Royal Malaysia Police (PDRM) through the official Semak Mule portal at semakmule.rmp.gov.my
• Preserve all evidence, including screenshots, messages, transaction records, and correspondence with the scammer
• Notify your bank or financial institution if money has been transferred
• Change passwords for any compromised accounts immediately

To protect yourself from commercial crimes:

• Never share personal information, passwords, or banking details via email, phone, or unsolicited messages
• Verify the legitimacy of websites before entering sensitive information—check URLs carefully and look for secure connection indicators
• Be cautious of unsolicited job offers, investment opportunities, or requests for upfront payments
• Use strong, unique passwords and enable two-factor authentication where available
• Keep your devices updated with the latest security patches and antivirus software
• Trust your instincts—if something feels suspicious, it probably is

Remember that authorities and legitimate organisations will never ask you to confirm passwords, PIN numbers, or full banking details through unsecured channels.

The fight against commercial crime requires vigilance from every Malaysian. By staying informed, exercising caution, and reporting suspicious activity promptly through official channels, we can collectively reduce the impact of these crimes on our communities.

For immediate assistance, contact NSRC at 997 or visit semakmule.rmp.gov.my to file a report.