THE Securities Commission Malaysia (SC) and the Malaysian Communications and Multimedia Commission (MCMC) have formalised an agreement to intensify efforts to combat online scams and fraudulent investment schemes, officials announced today.
The memorandum of understanding (MoU), signed by SC Chairman Datuk Mohammad Faiz Azmi and MCMC Chairman Tan Sri Mohamad Salim Fateh Din at the SC headquarters today, was witnessed by Minister of Communications Datuk Fahmi Fadzil and Deputy Finance Minister Liew Chin Tong.
The partnership underscores a joint commitment to addressing the growing threat of digital fraud, including unlicensed investment schemes exploiting online platforms and communication technologies.
Officials said the collaboration will leverage emerging technologies and artificial intelligence solutions to enhance detection, investigation, and enforcement efforts.
“The MoU represents a significant step in protecting retail investors and the public from scams. By combining our expertise, SC and MCMC can respond more effectively to emerging threats, strengthen safeguards, and raise public awareness of financial and investment fraud,” Mohammad Faiz said.
The initiative aligns with the expanded mandate of the National Scam Response Centre and reflects a broader strategy to maintain public confidence in Malaysia’s digital economy.
Over the last two years, SC and MCMC successfully blocked or suspended 328 websites, 388 Telegram accounts, and 60 phone numbers linked to fraudulent activities.
MCMC highlighted the importance of coordinated operations to ensure a safer digital environment.
“This MoU reflects our ongoing commitment to protecting Malaysians in the digital space. As online scams grow in scale and sophistication, strong inter-agency coordination remains vital,” the commission stated.
The collaboration will also include intelligence-sharing, the development of standard operating procedures, and capacity-building in investigations and enforcement protocols.
In addition, public education initiatives will provide guidance on responsible investing, financial security, and digital safety.
The agreement builds on initial cooperation established in March 2025, which laid the groundwork for faster mitigation measures against online scams, including more efficient website blocking and content removal. - April 3, 2026
