PDRM Supports Government's Proposed Plan To Hold Telcos Responsible For Scams
Online financial scams led to losses of nearly RM1 billion in 2024.
By Sukhbir Cheema — 13 Jan 2025, 01:01 PM
The Malaysian government's proposal to review laws holding telecommunications companies accountable for online financial scams has sparked support from the Royal Malaysia Police (PDRM)
Speaking to the New Straits Times, Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf described the initiative as long overdue.
"Law enforcement efforts must remain on a par with the evolving criminal landscape," he said.
With nearly RM1 billion lost to scams last year, Ramli emphasised the urgent need for updated legislation to match the complexities of today's criminal landscape
A significant portion of these scams involve social media platforms and non-existent investment schemes, which saw losses surge by 80% compared to 2023.
Scammers often exploit weaknesses in mobile services, including the ease of purchasing unregistered SIM cards for as little as RM15.
Prime Minister Datuk Seri Anwar Ibrahim acknowledged this growing issue on 10 January, stating that Bank Negara is coordinating efforts to examine legislative changes.
Other nations, like Singapore, have already implemented stricter measures, including laws to regulate SIM card misuse and freeze the bank accounts of scam victims to prevent further losses.
On 7 January, Singapore enacted legislation permitting police to freeze the bank accounts of scam victims as a "last resort" to mitigate additional losses
The country has emerged as a significant target for scammers, reporting 26,587 cases in the first half of 2024, with losses amounting to SGD385.6 million (RM1.27 billion).
Maybank Group CEO Datuk Khairussaleh Ramli also urged for stricter controls on SIM card sales and registration.
"If there are laws to hold tele-communicationscompanies responsible, we hope they will look into the sale of SIM cards more closely to ensure they do not fall into the wrong hands," he said, stressing that proactive measures are vital to prevent criminals from staying ahead of law enforcement.
Khairussaleh added that Singapore's decisive actions, such as freezing accounts linked to scams, offer a potential model for Malaysia.
