"Love scam" losses almost quadrupled to RM195 million this year

Cyber crimes in the country, particularly the "love scam", saw losses increasing almost four-fold, from RM52.3 million last year to a staggering RM195 million between January till November this year.

Federal Police (Bukit Aman) Commercial Crimes Investigation Department (CCID) deputy director, Datuk Hamza Taib said the number of cases increased from 1,028 last year to 1,380 in the 11-month period.

"This is causing a huge outflow of money to a country where the syndicates involved are operating that is Nigeria with a smaller amount reaped by perpetrators operating in Malaysia.

"They are good at targetting lonely women," he told reporters here Wednesday. Earlier, he had attended the 8th Collaboration Meeting between the CCID Singapore's Commercial Affairs Department (CAD).

Also present was CAD director David Chew Siong Tai.

Hamza said hacking of e-mails of big companies and individuals was also on the rise with 139 cases reported with losses of RM52.9 million from January till November as compared to 120 cases and losses totalling RM50.1 million last year.

"Cyber cheating is now increasingly complex and various latest gadgets and software are being used by the cuplrits which poses a big challenge to us especially in "love scams" where we have to act fast to stop outflow of money," he said.

On the meeting, he said it was an important platform for both countries so that they could act in concert in combating cyber crimes.