Malaysians have been urged to remain vigilant as online scams continue to proliferate, often masquerading as enticing “investment opportunities” or shopping deals that appear too good to be true.

According to Datuk Indrani Thuraisingham, Vice-President of the Federation of Malaysian Consumers Associations (Fomca), scammers typically lure unsuspecting victims with promises of quick profits or substantial savings, all presented as risk-free. Many of these scams are made to seem legitimate through the use of clone websites, which mimic reputable platforms to gain victims’ trust.

Indrani highlighted the prevalence of advertisements offering seemingly incredible returns, such as RM10,000 within 24 hours in exchange for a RM200 investment, along with claims of “instant loan approvals”. Victims are often instructed to transfer money into personal bank accounts, and scammers create a false sense of urgency by using phrases such as “limited time only” to prompt hasty decisions. These fraudulent tactics are frequently enabled by the anonymity of online platforms, coupled with low public awareness.

Clone websites purporting to sell branded goods at suspiciously low prices are also on the rise. Indrani explained that such fake e-commerce sites are primarily designed to harvest payment information or personal data. In many cases, victims either receive counterfeit items or no products at all, resulting in significant financial loss and distress.

She further warned consumers to be cautious of “dark patterns”, which are manipulative design features embedded in websites to influence user behaviour. These include false scarcity alerts, automatic additions to online shopping baskets, and subscription traps that are intentionally difficult to cancel. 

Indrani noted that Malaysia has yet to implement regulations to address these deceptive practices. At present, India stands as the only country in the Asia-Pacific region with comprehensive guidelines in place, as established by the Indian Central Consumer Protection Authority’s 2023 directive, which prohibits 13 specific manipulative tactics.

To safeguard against scams, Indrani encouraged the public to verify any investment-related offers using the Securities Commission’s Investment Checker, to check bank account credentials via the Semak Mule portal, and to report suspicious activities through the National Scam Response Centre’s 997 hotline.

“Always be sceptical of anything that sounds too good to be true — it usually is,” she advised.

(Source: NST) 

• TAGS:
• Consumer Alert
• Consumer Protection
• E-commerce Scams
• Federation of Malaysian Consumers Associations
• Financial Safety
• FOMCA
• Investment Fraud
• Online Scams
• Scam Awareness