Cybercrime Costs Malaysia RM 1.22 Billion in Ten Months — IGP

The Scale of the Problem

Malaysia's Inspector-General of Police has revealed that cybercrime cost the nation RM 1.22 billion in just ten months. This figure encompasses online scams, data breaches, ransomware attacks, business email compromise, and other digital crimes.

To put this in perspective, RM 1.22 billion is more than the annual budget of many Malaysian government agencies. It represents real money taken from individuals, families, and businesses — money that funds criminal syndicates operating across borders.

Who Is Affected

Cybercrime does not discriminate. The losses are spread across:

• Individuals — Phone scams, investment fraud, and online shopping scams continue to claim victims across all demographics and income levels.
• Small businesses — SMEs are increasingly targeted by business email compromise (BEC) attacks, where scammers impersonate suppliers or executives to redirect payments.
• Large corporations — Ransomware attacks and data breaches hit major organisations, with recovery costs often exceeding the ransom itself.

The Government Response

Malaysia has taken several steps to combat cybercrime:

• NSRC 997 hotline — Operating 24/7 with the ability to freeze suspicious accounts
• Blocked 2.3 billion scam calls and 2.5 billion suspicious SMS messages since 2022
• New central cybersecurity agency — Announced by the PM to consolidate cyber defences
• Strengthened cross-border cooperation — Working with ASEAN partners to dismantle scam syndicates

What You Can Do

For individuals:

• Never transfer money based on a phone call or message alone — always verify independently
• Use strong, unique passwords and enable two-factor authentication on all accounts

For businesses:

• Implement email authentication (SPF, DKIM, DMARC) to prevent impersonation
• Train employees to verify payment requests through a second channel (phone call, in-person)
• Maintain offline backups to recover from ransomware without paying

Frequently Asked Questions

How much does cybercrime cost Malaysia each year?

Malaysia's Inspector-General of Police reported RM 1.22 billion in cybercrime losses in just ten months, covering online scams, data breaches, ransomware attacks, and business email compromise. The actual figure is likely higher, as many incidents go unreported.

What is the most common cybercrime in Malaysia?

Phone scams, particularly the Macau Scam impersonating police or bank officials, are the highest-volume cybercrime category in Malaysia, while investment and cryptocurrency fraud account for the largest financial losses. Business email compromise is the fastest-growing threat targeting Malaysian SMEs.

How do I protect my business from cybercrime in Malaysia?

Implement email authentication protocols (SPF, DKIM, DMARC) to prevent impersonation, train employees to verify payment requests through a second channel such as a phone call, and maintain offline backups to recover from ransomware without paying. For immediate help, call the NSRC hotline at 997.