THE nation recorded total financial losses of RM5.62 billion due to online fraud between 2023 and 2025, with 2025 alone accounting for RM2.77 billion, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.
The losses in 2024 and 2023 were RM1.57 billion and RM1.28 billion respectively, reflecting a steep upward trajectory in cybercrime.
“The losses cover various forms of online fraud, including phone scams, love scams, e-commerce crimes, e-financial crimes, non-existent loans and non-existent investment schemes,” Saifuddin said in a written parliamentary reply.
He described the trend as “highly alarming” and stressed the government’s commitment to curbing these offences.
Saifuddin emphasised that law enforcement continues to enhance the application of existing legislation, particularly under Sections 424A to 424D of the Penal Code, which allow for heavier penalties in recognition of the growing complexity and organised nature of cyber fraud.
He added that the government is reinforcing strategic cooperation between the police, financial institutions, telecommunications companies, and both domestic and international enforcement agencies. “Through information-sharing mechanisms, integrated operational actions and technical support, we are enhancing our capacity to prevent, detect, investigate and prosecute online fraud syndicates,” he said.
The minister also revealed that authorities are reviewing potential legal amendments aimed at tightening provisions under the Penal Code, the Communications and Multimedia Act 1998, and laws relating to money laundering and terrorism financing.
The proposals would allow for tougher punishments, stricter penalties, and the seizure of assets linked to online fraud.
“The review also covers action against individuals involved as mule account holders, agents or accomplices in facilitating such criminal activities,” Saifuddin added.
The statement came in response to a parliamentary question from Datuk Larry Sng Wei Shien (PBM–Julau) regarding government measures to address financial losses caused by online fraud and the steps being taken to strengthen legislation and enforcement against those involved. - January 22, 2026
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