KUALA LUMPUR: Cybercriminals are very good at quickly adopting and exploiting new technological changes to stay ahead of law enforcement while they scam millions from the public.
This is why the number of online financial crimes is rising around the world and in Malaysia, according to Inspector-General of Police Tan Sri Acryl Sani Abdullah Sani.
Such crimes can have terrible consequences, he pointed out in his speech before he and Bank Negara governor Tan Sri Nor Shamsiah Mohd Yunus launched a virtual Financial Crime exhibition yesterday.
“Financial crimes can devastate the victim and lead to more mule accounts being created for the purpose of scams. It can also have a negative impact on the nation’s economy in the long term,” said Acryl Sani.
Loan scammers and Ah Long (loan sharks) use social media sites and chat applications to advertise their loan offers with fast approvals.
“The syndicates will deal with the victims online and demand various documents and fees before duping them,” he explained.
Bukit Aman expects the syndicates will still employ similar tactics, but they will focus on a younger victim pool – students and youths – to pull off illegal money lending and mule account scams now.
“We are cooperating with banking institutions to ensure investigations, especially those involving mule accounts, can be completed faster,” Acryl Sani said.
Fraud in online…
