31,169 online crime cases recorded from 2021 until June 30

It said that based on statistics of the Royal Malaysia Police (PDRM), online crimes include online purchase fraud, non-existent loans, African Scam/Love Scam, Macau Scam, investment, Business Email Compromise and SMS scam.

"Bank Negara Malaysia (BNM) and financial institutions have collaborated with various enforcement agencies such as the PDRM, Malaysian Anti-Corruption Commission, Ministry of Domestic Trade and Consumer Affairs, Companies Commission of Malaysia as well as Securities Commission, including in monitoring, investigation and prosecution in court.

"Furthermore, efforts to increase public awareness about financial fraud have also been multiplied through a series of online awareness talks, using media channels and also social media sites," said the ministry in a written reply to a question from Chong Chieng Jen (DAP-Stampin) in the Dewan Rakyat today.

MoF said BNM is also working with the Malaysian Communications and Multimedia Commission and telecommunication companies to improve the security of communication and multimedia channels to prevent the dissemination of false messages and the spread of malware by financial fraud syndicates.

In addition, phone numbers and mobile devices involved in financial fraud cases will be blacklisted, it said.

The ministry said that banking institutions are adopting high security system standards to protect their customers' accounts.

The government through BNM is also continuously strengthening the banking security guidelines and policies that financial institutions must adhere to, MoF added.