Online scams surge to 88% of commercial crime in early 2023
Online scams dominated commercial crime in the first quarter of 2023, making up nearly 88% of all cases. Fraudsters targeted victims through fake investments, loans, and e-commerce deals, costing millions in losses. Authorities reported a rise in arrests and court cases as they stepped up efforts to combat the surge. A total of 16,880 online scam cases were recorded between January and March, with victims losing over RM555.7 million. The most damaging were telecommunications-related frauds, which accounted for 5,981 cases and losses exceeding RM173 million. Fake investment schemes followed closely, with 2,204 incidents resulting in RM246.7 million stolen.
E-commerce scams ranked second, with 4,858 cases and losses of RM30.4 million. Non-existent loan frauds also caused significant harm, totaling 2,101 cases and RM15.5 million in losses. Overall, commercial crime cases rose by 12.89% to 64,643 compared to the same period in 2022.
Despite the increase in cases, total financial losses from commercial crimes fell by 2.8%, dropping from RM787 million in Q1 2022 to RM764 million in Q1 2023. Law enforcement responded by boosting arrests, detaining 7,190 individuals—a 1.5% increase from the previous year. Investigation papers charged in court also climbed by 13.59%, reaching 5,140. The figures highlight a growing threat from online fraud, particularly in investment and telecommunications scams. While total losses slightly decreased, the sharp rise in cases and arrests suggests authorities are intensifying their crackdown. More investigations are now reaching court as officials work to curb the trend.
