KUALA LUMPUR – RM3.18 billion was lost to online scams 2021 to April 2024, with the amount possibly higher from unreported cases, Digital Minister Gobind Singh Deo said.
The reported figure involves 95,837 victims of cybercrimes in the country.
“It is also likely the figures could be higher as many victims do not report to the authorities for various reasons. It is imperative for the nation to crack down cybercrimes that are able to inflict serious damages for profit or political gains,” he said in his speech during a visit to the Axiata Cyber Fusion Centre in Petaling Jaya, today.
Gobind also witnessed the singing of two memoranda of understanding (MoUs) between Axiata Group Bhd, CyberSecurity Malaysia (CSM) and the Malaysia Digital Economy Corporation (MDEC) on joint cooperation on cybersecurity.
He said fighting cybercrimes cannot be the work of the government alone, and described the MoUs as examples of public-private cooperation in fighting high-tech crimes.
Under the MoUs, the three parties agree to promote digital transformation, innovation in cybersecurity and resource sharing to identify cyber threats.
They will also collaborate to promote the development of international norms and standards in cybersecurity, as well as share intelligence and expertise in threat detection.
Gobind also said the Digital Ministry plans to formulate a policy on quantum technology that is used in data encryption, to further strengthen personal data protection. – August 12, 2024