The Malaysia Securities Commission and the Malaysian Communications and Multimedia Commission announced an agreement to step up joint efforts against online scams and unlicensed activities, following a recent high-level meeting focused on the growing proliferation of scams across online platforms. Cooperation will focus on strengthening enforcement and scam prevention, including leveraging artificial intelligence capabilities, working more closely with online service providers and other stakeholders, and expediting scam detection and content takedowns. In 2024, the Malaysia Securities Commission received 4,859 public complaints and enquiries on scams and unlicensed activities, while service providers with the Malaysian Communications and Multimedia Commission took down 66,507 scam-related contents; a further 19,200 scam-related contents were removed between 1 January and 26 February 2025. The two regulators also explored collaboration on public and investor education initiatives on scam awareness, including through the Online Safety Campaign launched by the Minister of Communications. Further work will include exploring opportunities to streamline coordination and information sharing to support more rapid responses against online scams, fraudulent investment schemes and financial cybercrimes.

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