Securities Commission Malaysia announced it has signed a memorandum of understanding with the Malaysian Communications and Multimedia Commission to enhance enforcement cooperation and strengthen efforts to mitigate and prevent scams. The arrangement targets the growing threat of online scams and fraudulent or unlicensed investment schemes that exploit digital platforms and communication technologies. The MoU provides for expanded intelligence sharing, the development of standard operating procedures, and capacity building for coordinated investigations and enforcement protocols. It also envisages the use of emerging technologies, including artificial intelligence-driven solutions, to improve detection, investigation and enforcement efficiency, and is positioned as aligned with the expanded remit of the National Scam Response Centre; in 2024 and 2025, the SC, with MCMC assistance, blocked or suspended 328 websites, 388 Telegram accounts and 60 telephone numbers. The agreement builds on engagement between the two bodies following their first collaboration meeting in March 2025, and includes further work on faster removal of scam-related pages and content, exploration of new technological tools, and joint public education initiatives on investment scams, responsible investing, financial security and digital safety.

Original source View in tracker