Scam Busters: Beware! Don’t Fall Trap into these Common & New Scams

 

1. AI-powered Scams

With Artificial Intelligence (AI) technology on the rise, so are advanced scam tactics! AI-powered scams are probably one of the easiest ways for someone to fall into a trap. A few ways how AI-powered scams work: 

• Phishing emails and text messages that are more convincing and natural-sounding.
• Use AI-generated deepfakes of celebrities to trick victims into AI scam advertisements. 
• Realistic voice, image and video impersonation of the victims’ family members and friends to trick them into trusting them. 

Security measure:

Exercise extra caution, especially if something seems too good to be true, as AI-powered scams can appear very convincing. If the video or content seems suspicious, double-check and verify the source before proceeding.

 

2. QR Code Scam

Scanning QR codes is something that we do on a daily basis, and seems pretty harmless. But scammers have now turned to scamming victims through QR Code, by creating fake QR codes that appear genuine. When these QR codes are scanned, potential victims will be redirected to a fake website or merchant account that’s created by the scammer. If they fall into the trap, the scammer will then attempt to obtain the victim’s personal data or spread virus-infected files.

Security measure: Do not scan QR codes from unverified sources, especially if they are outside their intended locations. QR codes in public places can be easily tampered with, so be extra careful. Most importantly, before entering any personal information or making a payment, check and ensure that it is the merchant’s official page. 

 

3. Scam Calls 

This is one of the most common methods scammers use to deceive victims. They may impersonate authority figures to impose threats or pose as fake officers, offering unbelievable deals or accusing you of unpaid debts.

Here are some common call scam tactics:

Fake Loan Scams: Unsolicited loan offers that seem too good to be true, particularly those requesting upfront fees or personal information.

Unsolicited Debt Calls: Random calls falsely claiming you have unpaid loans to create unnecessary panic.

LHDN Scam Calls: Fraudulent calls from scammers posing as representatives of Malaysia’s Inland Revenue Board, demanding payment for debts that do not exist. 

Security measure:

Do not give out any personal data information especially if you are suspicious of the call. You can always verify with the respective call’s company headquarters. 

 

4. Phishing Scams 

Phishing remains one of the oldest yet insidiously successful scam tactics done by scammers, especially if you aren’t vigilant. With just a click of a link, you could lose all your money. Phishing tricks aim to deceive you into revealing your credentials, typically through SMS, emails, or counterfeit websites that closely mimic legitimate ones.

Victims often unintentionally click on links sent or set up by scammers via SMS, emails, or websites. These links lead to malicious websites designed to trick you into entering sensitive financial information, potentially infecting your phone or computer with malware and allowing scammers access to your personal banking credentials.

Security measure:

Be cautious and avoid clicking on suspicious links from SMS, emails, or websites to protect yourself from phishing scams that aim to steal your credentials and compromise your financial security.

Quick Helpline Links

Bank Negara Malaysia – https://www.bnm.gov.my/financial-fraud-alerts 

For more information on financial scams, fraud alerts, and what to do if you are a victim, visit the Bank Negara Malaysia website.

National Anti-Financial Crime Centre (NFCC) – https://nfcc.jpm.gov.my

In line with the government’s effort to combat financial crimes, the NFCC was launched under the National Anti-Corruption Plan 2019-2023. If you have been scammed, you can report the incident by directly dialing 997.