SELANGOR recorded RM986.79 million in online scam losses last year, the highest among all states, as total losses nationwide climbed to RM2.97 billion.
The state’s losses more than doubled from RM446.16 million in 2024, while Kuala Lumpur saw losses rise to RM782.86 million from RM293.30 million over the same period.
Combined, Selangor and Kuala Lumpur lost about RM1.77 billion to online scams in 2025, remaining the country’s worst-hit areas for the third consecutive year.
Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said the central bank was working with financial institutions and enforcement agencies to strengthen safeguards, including speeding up efforts to trace stolen funds and tightening online banking security.
However, he stressed that stronger security measures must be matched by greater public vigilance, particularly when scammers pressure victims into making immediate decisions.
“When pressed to act immediately, verify through official channels before sharing information or transferring money,” he said at the opening of the Selangor Financial Literacy Carnival 2026 yesterday.
Rasheed also urged financial institutions to strengthen security controls, communicate fraud warnings more clearly and act swiftly when suspicious transactions are detected.
He said the speed of digital transactions had created another vulnerability, allowing money to change hands within seconds before victims had time to question a request.
One common tactic involves callers posing as bank officers or government authorities and claiming victims must transfer money to prevent their accounts from being blocked.
Rasheed advised the public to verify such claims independently through official channels before disclosing personal information or transferring funds.
He said artificial intelligence could help financial institutions detect unusual transactions and alert customers to potential fraud. However, the technology must be supported by adequate personal data protection and measures to help consumers make informed financial decisions.
The figures were presented in the governor’s slides, which cited a written parliamentary reply by the Home Ministry in June.
According to the ministry’s data, nationwide losses from online scams rose from RM1.57 billion in 2024 to RM2.97 billion in 2025.
Non-existent investment schemes accounted for the largest losses at RM1.46 billion, followed by telecommunications scams at RM802.47 million. - October 25, 2026