INTERACTIVE: Malaysians lose RM5,000 on average to scams, second-highest in SEA

By SHYAFIQ DZULKIFLI 

PETALING JAYA: Malaysians lost an average of US$1,035 (RM4,967.60) per person to scams last year, the second-highest in Southeast Asia after Singapore, according to a new study by the Global Anti-Scam Alliance (Gasa).

Its State of Scams in Southeast Asia 2025 report found that Singaporeans recorded the biggest losses, averaging US$2,132 per victim in 2024, followed by Malaysia and Thailand at US$354.

Across the region, an estimated US$23.6bil was stolen by scammers, or an average of US$660 lost per adult.

 

“Over one-fifth or 22% of Southeast Asian adults have had money stolen by scammers in 2024,” Gasa managing director Jorij Abraham said in the report.

Malaysia ranked highest in the region in terms of prevalence, with 32% of its adults losing money to scams, followed by the Philippines (31%) and Singapore (21%).

The study also revealed that Malaysians were most often tricked into transferring funds directly, with 55% of victims using bank transfers. 

Another 22% paid through e-wallets and 20% via credit cards.

 

Payment Network Malaysia (PayNet) senior director of risk and compliance Ken Yon Kian Guan said the speed of digital transfers has made scam recovery harder.

“This is no longer just a national challenge, it is a growing regional problem,” he said in the report.

Meanwhile, 73% of Malaysian adults reported being targeted by scams in 2024, the second-highest rate in Southeast Asia after Vietnam (77%). 

Singapore came third at 66% while the regional average stood at 63%.

Investment scams emerged as the most common type, affecting 63% of the 6,000 respondents surveyed. 

This was followed by unexpected money offers and impersonation scams, both at 58%.

Despite the widespread losses, many victims did not come forward. 

About 23% of Malaysians who were scammed chose not to report it, citing uncertainty over where to file a report (35%) and doubts that authorities could act (34%).

Among the 734 Malaysians surveyed, 27% reported scams to the police, 25% to social media platforms and 24% to family or friends.

Exposure to scams is also alarmingly high, with 85% of Malaysian adults surveyed saying they encountered at least one scam in the past year. 

Phone calls, text messages and instant messaging apps were identified as the most common channels used.

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