With police recording over 66,000 online crime cases and RM2.97 billion in losses in 2025, digital wealth platform Versa urges caution to safeguard shoppers' savings.
As Malaysians prepare their shopping carts for 11.11, scam calls and phishing links remain a constant risk for mobile shoppers. According to consumer research conducted by digital wealth platform Versa, only 4% of Malaysians surveyed by digital wealth platform Versa feel their mobile phone is very safe from scammers and hackers.
The findings point to a wide sense of vulnerability as high-volume shopping periods approach. Nearly eight in ten respondents (78%) have encountered a scam in the past two years, either directly or through someone they know. Of those who have encountered a scam, 72% said the scammer first reached out through their mobile phone.
With scam syndicates exploiting the urgency of flash sales and fake delivery notifications, Versa is urging consumers to pause before checking out, so their hard-earned savings don’t disappear in seconds.
AT A GLANCE
- Only 4% of Malaysians surveyed feel their mobile phone is very safe from scammers and hackers.
- 78% have encountered a scam in the past two years, either personally or through someone they know.
- 72% of those who encountered a scam say the perpetrator first contacted them via their mobile device.
- 69% of Gen Z respondents rely primarily on social media for financial knowledge, leaving them exposed to fraudulent sponsored ads.
- RM2.97 billion was lost to online crime nationwide in 2025 across more than 66,000 cases, according to police data in February 2026.
- 16,880 online scam cases were recorded in the first quarter of 2026 alone, with losses exceeding RM555.7 million.
The Threat in Your Pocket: 72% of Scams Start on Mobile
Mobile phones are the main way scammers reach Malaysians, according to a Versa survey of 1,022 respondents. Nearly three in four (72%) of those who encountered a scam said the scammer reached them through their mobile phone. Despite the widespread use of mobile phones as a point of contact for scammers, only 4% of respondents said they felt their devices were very safe from scammers and hackers. Phone calls and SMS were identified as the most common avenues through which scams originate (80%), followed by messaging apps (76%).
National statistics reflect the scale of the threat. Bukit Aman’s Commercial Crime Investigation Department (CCID) reported in February 2026 that online crime cases nearly doubled to more than 66,000 in 2025, with losses of almost RM3 billion.
The trend has continued this year, with 16,880 online scam cases recorded in the first quarter of 2026 and losses of more than RM555.7 million, including 4,858 e-commerce cases. Scammers are also targeting payment methods directly: police recorded 5,134 QR code scam cases in the first half of 2026, with losses of RM28.67 million.
Beyond Fake Parcels: The Social Media Risk
Scams during the year-end retail season go well beyond undelivered packages. Busy sale periods can also provide cover for fake payment gateways, phishing forms that harvest login details, and fraudulent investment schemes. Non-existent investment schemes were the largest source of losses in 2025, at RM1.5 billion, and they remained the costliest scam category in the first quarter of 2026.
This matters for younger consumers in particular. A separate Versa survey of 1,923 Gen Z Malaysians found that 69% get most of their financial knowledge from social media, the same platforms where fraudulent sponsored listings, impersonation accounts and fake storefronts often appear.
To help consumers recognize these tactics, Versa recently released a public education video featuring ambassador Khairy Jamaluddin a scripted mock interview with an actor portraying a scam syndicate operative. The dramatised sketch breaks down how syndicates harvest victim data, deploy fake payment pages, and engineer OTP phishing schemes. (Watch the video here)
Six Checkpoints Before You Check Out This 11.11
- Screen unknown bank accounts: Always verify recipient bank details and phone numbers using PDRM’s official Semak Mule portal before making any direct transfer.
- Never transact off-platform: Complete all purchases within secure, reputable e-commerce platforms. Treat any seller who asks to move the conversation to WhatsApp, or requests a direct bank deposit, as a red flag.
- Beware of artificial urgency: Countdown timers and limited-stock alerts are standard promotional tools, but scammers weaponise them to stop buyers from making routine security checks.
- Guard your authentication codes: Never share OTPs, TAC codes or banking login details. Legitimate merchants and delivery providers will never call or message to ask for them.
- Verify investment entities and platforms: Before putting money into any financial platform, check that it is licensed using the Securities Commission Malaysia’s (SC) Investment Checker, and verify that it does not appear on the SC’s Investor Alert List. Only use the official websites and platforms of the verified entities.
- Call the 997 hotline: If you suspect an unauthorised transaction, contact your bank’s fraud desk immediately to block it, call the National Scam Response Centre (NSRC) at 997, and lodge a police report.
“It takes Malaysians months of careful budgeting to build up a RM1,000 emergency fund or holiday buffer, but a deceptive checkout link can drain it in seconds,” said Teoh Wei Xiang, CEO and Co-Founder of Versa. “Only 4% of Malaysians we surveyed feel their phones are very safe, and 11.11 adds intense artificial urgency on top of that. Our initiative with KJ was built to show that scammers win when they make people rush. This sale season, the strongest financial defence is simply taking a five-second pause to double-check where your money is actually going.”
Methodology
Data on scam encounters and device safety is drawn from a Versa survey of 1,022 users in Malaysia, conducted via the Versa app in February 2025. Respondents were asked about scam incidents encountered by themselves or someone they know in the previous 24 months. The share reached through their mobile phone is based on the 798 respondents who had encountered at least one scam. Data on where young people get their financial knowledge is drawn from Versa’s “Spill the Tea on Your Financial Habits” survey of 1,923 Gen Z respondents aged 18 to 29, conducted via the Versa app between 8 and 19 October 2026. Respondents are Versa app users and may not be representative of all Malaysians. Figures are self-reported and percentages are rounded.
