He also said 33,147 suspects in cyber fraud cases had been arrested with 22,196 cases charged in court from 2019 to July this year.

“The ability of cybercriminals to exploit technological changes and creatively trap victims with a variety of new modus operandi, paired with the moderate level of public awareness on cybercrime, are among reasons for increasing cases,” he said.

Acryl Sani was taking part in a virtual Financial Crime Exhibition: Scan Before You’re Scammed organised by Bank Negara Malaysia’s (BNM) Museum and Art Gallery.

The virtual exhibition at https://museum.bnm.gov.my, launched by BNM governor Nor Shamsiah Yunus, aims to provide guidance and information to prevent people from falling victim to online financial scams.

Acryl Sani said that based on cases managed by Bukit Aman’s commercial crime investigation department, there were seven main forms of cyber fraud – online purchases, non-existent loans, online investments, Macau scams, African scams, business emails compromised, and SMS fraud.

“Police see the need to disseminate as much knowledge as possible to the community so they can avoid becoming victims of such crimes,” he said.

He also said that cyber fraud was on the rise in Malaysia.

“A total of 13,703 cases with losses amounting to RM539 million were reported in 2019, and the number increased to 17,227 in 2020 with losses of RM511.2 million.

“In 2021, 20,701 cases were recorded with losses of RM560.8 million,” he said.