7 Common Online Scams That Malaysians Fall For

The prevalence of scams continues to impact a lot of people living in Malaysia, with the nation having lost almost RM1.3 billion in various scams in 2023. It was reported that the country recorded losses of around RM600 million in 2025.

Data from the Department of Statistics Malaysia (DOSM) revealed that the number of crimes occurring online had increased to 34,532 in 2023, up by 35.5% from 25,479 in 2022. These crimes involve e-commerce, financial and investment scams.  

Here are 7 common online scams that Malaysians fall for. 

#1 e-Commerce Scams

In recent years, adoption of shopping online has increased, with four out of five online users having shopped online in 2020. This may be due to several reasons such as cheaper prices and convenience.  

Since the pandemic, many Malaysians preferred to shop essentials online especially during lockdowns. While many have resumed shopping at physical shops, more people have become familiarised with shopping online. The introduction of Buy Now Pay Later schemes through online platforms may have also encouraged more people to shop on such platforms. 

E-commerce scams is one of the main types of scam cases reported to the Royal Malaysia Police. E-commerce scams occur when a shopper paid a seller for an item and was not sent the item or when a buyer refused to pay sellers for the item received. 

To avoid such incidences, shoppers can check the seller’s reliability by looking at customer reviews and ratings. If you find that there is not much contact information and communication can only be done via WhatsApp, you may need to be alert. 

#2 Investment Scams

Non-existent investments recorded one of the highest increases in cases to 5,393 cases in 2023, up by 65.1% from 3,266 cases the year before. 

Scammers would often tell victims about an exclusive and limited period investment that offers guaranteed and too good to be true returns. They may also mention companies or prominent individuals to gain your trust. 

If you’re unsure of an investment, you can always verify their legitimacy on three sites, the Securities Commission Investor Alert List, Bank Negara Malaysia Alert List and Semak Mule. Alternatively, you can also check with the Securities Commission Malaysia or Bank Negara Malaysia directly. 

#3 Loan Scams

Loan scams are also one of the major online crimes in Malaysia, with more than 4,000 cases reported in 2023. 

Typically, the way loan scams work is criminals tricking victims into believing that they can get a loan with better terms but these loans don’t exist. 

Victims end up having their personal information and bank details or money stolen. 

To ensure that you’re not dealing with a scammer, check if the lender is registered with Bank Negara Malaysia using the Financial Consumer at www.bnm.gov.my/fcal. 

#4 Love Scams

Love scams are also on the rise in Malaysia, with 935 reported cases in 2023. Criminals use a fake online identity to approach victims, often portraying themselves as successful individuals or have several business ventures. 

Some of the red flags you may want to take note of include scammers making extravagant promises and engaging in sweet talks with victims. However, they will not meet up physically with the victim upon request. After a while, they may claim to be having some problems with cash flow and require your assistance like sending them money. 

As precaution, avoid providing banking and personal details to people you have not met or you did not get to know for a long period of time.  

#5 Malware

Malware is another common online scam that occurs when criminals lure victims to download files that allows them to steal the victim’s banking information or even taking control their phone. 

Some of the tactics employed by scammers include sending a message with a link claiming that you’ve won a prize, missed a delivery or for account verification. The link leads you to download an application or APK file. 

Sometimes, scammers would also create a situation that instigates a sense of urgency or panic, which can lead to mistakes. 

With the increase in online crimes, it’s best to be careful when downloading files or applications. Avoid downloading suspicious files from unknown senders or applications out of the official application stores.

#6 Phishing

Similar to malware, criminals try to trick victims into providing their personal information. Scammers send suspicious links via SMS or emails or through fake websites that look similar to the official sites. 

If victims proceed to key in their information, they may lose their information to the scammers. 

If you need to go on a website, type out the website yourself on the search bar.

#7 Job Scams

When looking for jobs, candidates need to be careful of suspicious job advertisements. Some scammers pose as recruitment agencies asking for upfront registration fees from candidates. 

Some scammers also make fake job offers to victims who didn’t make a job application in the first place. The scammers will then ask victims to provide personal information like bank details and passwords. 

You can verify a job offer or advertisement with the company or its LinkedIn page. 

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