Nearly 15,000 on­line scams re­ported

The Sun (Malaysia) - - NEWS WITHOUT BORDERS -

KUALA LUMPUR: Po­lice recorded 14,627 on­line scams with eco­nomic losses amount­ing to RM1.6 bil­lion last year.

Deputy Home Min­is­ter Datuk Nur Ja­zlan Mo­hamad said this is ev­i­dent of crim­i­nals ex­ploit­ing the speed, con­ve­nience and anonymity on the in­ter­net to com­mit a di­verse range of crim­i­nal ac­tiv­i­ties.

“The fu­ture of tech­nol­ogy is un­cer­tain. What is new to­day will be su­per­seded by the next gen­er­a­tion of con­nec­tiv­ity to­mor­row. What is cer­tain how­ever is to man­age the cor­re­spond­ing risks be­fore they be­come an epi­demic,” he said at the 8th An­nual In­ter­na­tional Con­fer­ence on Fi­nan­cial Crime and Ter­ror­ism Fi­nanc­ing held at Ma­jes­tic Ho­tel here yes­ter­day.

He said deeper in­tel­li­gence co­op­er­a­tion, stronger do­mes­tic and re­gional frame­works, and bet­ter un­der­stand­ing of high-risk ter­ror­ism fi­nanc­ing chan­nels are needed to com­bat the risk.

He added that Malaysia’s con­tin­u­ous ef­fort to im­prove its anti-money laun­der­ing and counter-ter­ror­ist fi­nanc­ing ini­tia­tives has also paved the way for its mem­ber­ship into the in­ter­na­tional Fi­nan­cial Ac­tion Task Force (FATF), which aims to iden­tify the com­pli­ance risks faced by the in­dus­try that are emerg­ing due to fi­nan­cial crimes and ter­ror­ism fi­nanc­ing. – by Aiezat Fadzell

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