ABOUT 122,000 calls were made to the National Scam Response Centre (NSRC) over fraud cases and advisory services up to August this year, says the Finance Ministry.
These 122,603 calls were made to the NSRC since its operations began on Oct 12, 2022.
“Based on the complaints received, the total losses suffered by victims amounted to RM371mil,” the ministry said in a written reply to Chong Chieng Jen (PH-Stampin) in the Dewan Rakyat yesterday.
Chong had asked for details about losses due to scams and whether new measures, such as replacing the OTP (one-time password) and introducing a “kill switch”, had been effective.
The “kill switch” mechanism allows users to immediately freeze their accounts if a suspicious activity is detected.
The ministry said the additional security steps taken by financial institutions since September 2022 had helped block unauthorised and suspicious transactions worth RM383mil last year.
“Reported cases of phishing and malware fraud to the NSRC have also shown a declining trend,” it added.
The National Fraud Portal (NFP) developed by Bank Negara and the financial industry would be implemented progressively by industry participants to enhance NSRC’s fund-tracking capabilities, it said.
“Through the NFP, fund-tracking processes have been automated to expedite the detection and freezing of scammed funds.
“Additionally, the NFP will improve data-sharing efficiency across the industry, using more comprehensive data,” it added.
The ministry said Bank Negara’s ongoing efforts to enhance the security of Internet and mobile banking services would continue – these include tightening fraud detection standards to empower financial institutions to identify suspicious transactions and block phishing and malware attacks in real time.
“The measures also include improving the Electronic Know Your Customer (e-KYC) policy to strengthen identity verification to combat mule account fraud.”
