As Singapore cracks down on online financial scams, will Malaysia follow suit?
Malaysia and Thailand are reviewing their own laws against online fraud, with an eye on Singapore’s Protection from Scams bill
A proposal to tighten regulations on telecommunications companies, which are seen as critical in curbing fraudulent activity, has sparked wide-ranging support from law enforcement, banking executives and policymakers.
“It is high time for new laws to be put in place and outdated legislation to be amended,” said Ramli Mohamed Yoosuf, director of the Royal Malaysia Police’s Commercial Crime Investigation Department, in a call for action on Monday.
Ramli’s department is at the frontline of combating scams, which have wreaked havoc across Malaysia, with losses estimated at 1 billion ringgit in 2024, according to the New Straits Times.
“Law enforcement efforts must remain on a par with the evolving criminal landscape,” Ramli said, highlighting the urgency of modernising Malaysia’s anti-scam framework.
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