By Dr. Amarjeet Singh @ AJ
Another headline. Another retired teacher. Another doctor. Another pensioner who has lost savings accumulated over a lifetime.
We shake our heads. “How could an educated person fall for this?” Then comes the harsher question: “Were they really scammed, or were they too greedy?”
It is an uncomfortable question, but we should discuss it honestly.
Yes, greed can cloud judgment. Some people chase extraordinary returns, ignore warnings and believe they have discovered a shortcut to wealth. But others lose money because they are frightened, lonely, trusting or trying to protect someone they love.
A person can make a poor decision and still be the victim of a crime.
Understanding this distinction helps us protect ourselves without becoming cruel towards others.
First, look beyond the headline
Imagine a teacher who spent thirty years preparing lessons, marking papers and helping other people’s children build a future. Retirement should bring some peace.
Now imagine that teacher staring at an empty bank account.
The loss is more than a number. It may represent medical security, independence, a modest holiday or the ability to live without asking children for help.
A doctor may understand disease yet misunderstand a fraudulent investment. A successful businessman may recognise commercial risk yet panic when someone impersonating an officer threatens arrest.
Education does not make us experts in every situation. Experience does not remove emotion.
When we say, “I would never fall for that,” we may be giving ourselves confidence before we have built any protection.
Be honest: greed sometimes opens the door
Let us not pretend every victim ignored no warning.
If someone promises to double your money quickly, guarantee exceptional profits and remove every possibility of loss, we must ask serious questions.
Why would a stranger offer us such an extraordinary opportunity? Where does the profit come from? What evidence have we checked independently?
Sometimes we stop asking because we desperately want the promise to be true.
That is where desire can become dangerous. The excitement of earning more begins to silence the responsibility of checking more.
But greed does not cancel deception. A reckless decision does not give someone permission to steal.
We can challenge the decision while holding the criminal responsible.
Many scams have nothing to do with becoming rich
A caller claims your account is involved in crime. A message says your child urgently needs money. Someone pretending to be a romantic partner invents a medical emergency.
Where is the greed in these situations?
The target may be trying to avoid arrest, help family or support someone they believe loves them. Other scams involve fake purchases, deceptive links or malicious software rather than an investment decision.
Malaysia’s National Anti-Financial Crime Centre describes several forms of online financial fraud, including phishing, impersonation, malware, parcel scams and love scams. nfcc.jpm.gov.my
Before judging a stranger from a headline, ask what actually happened.
Then ask the more useful question: What habits would protect me if the same pressure reached my phone tomorrow?
Step 1: Pause before emotion takes control
The first defence is a pause.
When someone pressures you to transfer money, disclose information or act immediately, stop the conversation. Put the phone down. Step away from the screen.
For a new investment or non-emergency purchase, make a personal rule: no payment until you have had time to check and think.
For an apparent family emergency, verify immediately through another channel.
Urgency is not proof. A countdown is not evidence. Someone else’s impatience should not become your financial decision.
Ask yourself: “Am I acting from facts, or from fear and excitement?”
Step 2: Verify through a channel you choose
Do not let the person making the claim control the verification.
If someone says they represent your bank, end the call and contact the bank using the number on your card or its official app or website.
If someone claims to be your child, call the number you already have. If a familiar voice asks for money, still verify independently.
Avoid using the caller’s link, supplied contact number or supposed supervisor as your only check.
A convincing logo, document or personal detail is not enough.
Verification means stepping outside the story the stranger has constructed.
Step 3: Check an investment before committing
For capital-market products and services in Malaysia, use the Securities Commission’s Investment Checker to verify whether the individual or entity is authorised. Consult its Investor Alert List as well. sc.com.my
Access these resources independently through the official SC website.
A company registration certificate alone does not establish permission to sell investments. Similarly, a familiar licensed company’s name does not prove the person messaging you represents it.
Match the identity, contact details and proposed service carefully.
Ask how returns are generated, what risks exist and how withdrawals work. If the explanation is confusing, secretive or evasive, do not pay.
Step 4: Check payment details, without assuming a clean result guarantees safety
Before a transfer, use PDRM’s official Semak Mule portal to check relevant account or phone details. Malaysia’s National Security Council encourages this precaution. Laman Web MKN
However, treat it as one check, not a certificate of honesty. A new fraudulent account may not yet have a recorded complaint.
Read the recipient’s name carefully. Question unexpected account changes. Independently confirm payment instructions, especially for large amounts.
The absence of a warning is not the same as evidence of safety.
Step 5: Bring another person into the decision
Make a family agreement: unusual financial requests and major unfamiliar transactions get a second opinion.
Choose someone calm who can question the proposal without humiliating you. It might be your spouse, sibling, adult child or trusted friend.
Say: “Please help me check this before I pay.”
That sentence is a strength.
Be especially cautious when someone insists you must hide the conversation from family or your bank.
Secrecy removes the people most likely to interrupt a bad decision. A legitimate proposal should survive reasonable scrutiny.
Step 6: Protect access to your money
Never disclose passwords, PINs or OTP/TAC codes to another person. Do not approve a transaction or login request you did not initiate.
Avoid installing apps or granting remote access at a stranger’s instruction. Use official app stores, keep devices updated and review unnecessary permissions.
Set transaction limits suitable for your usual needs and enable banking alerts.
If something looks wrong, contact your bank promptly through an independently verified channel.
Protection works best when it is routine. We should not wait until a frightening call arrives to learn our banking security controls.
Step 7: Recognise when you are being drawn further in
Be cautious when an opportunity changes after your first payment.
Suddenly there is a tax, an activation charge, an account upgrade or another deposit needed before you can withdraw.
An initial payout or impressive account balance does not independently prove legitimacy.
Ask: “Am I paying because the evidence is sound, or because I cannot bear admitting the first payment may be lost?”
Money already sent should never become the reason to send more.
Stop and obtain independent advice before making another transfer.
Step 8: If money is lost, act immediately
Stop sending money and stop following the suspected scammer’s instructions.
Contact your bank’s official fraud hotline immediately, or call Malaysia’s National Scam Response Centre at 997. Bank Negara Malaysia also advises lodging a police report. Bank Negara Malaysia
If you cannot reach 997, contact your bank without delay. Do not postpone action while waiting for someone to reassure you.
Preserve messages, receipts, account details, phone numbers and transaction times. If your phone may be compromised, use another trusted device to seek help.
Ask the bank what protective action is needed.
Prompt reporting matters, but recovery cannot be guaranteed. Report even if time has already passed.
Step 9: Beware of the person promising to recover everything
After a loss, desperation can make another promise attractive.
Someone may claim they can retrieve the money if you pay a fee or provide banking access. Banks have also warned about scammers impersonating NSRC officers. The Association of Banks in Malaysia
Verify any approach independently. Do not give another stranger money merely because they describe themselves as a rescuer.
Your wish to undo the loss is understandable. It also deserves protection.
Step 10: Help the person recover their dignity
If a parent or friend confesses, do not begin with: “How could you be so stupid?”
Begin with: “Let us contact the bank now.”
There will be time to examine mistakes. First, help limit the damage.
Afterwards, support them in rebuilding financial routines and confidence. If distress is overwhelming, help them seek professional support.
Let us be firm about greed, careful about trust and honest about our own weaknesses.
Your savings represent years of work. Protect them with patience and verification.
And when someone loses theirs, remember: we can teach a lesson without destroying a person.
Amarjeet Singh Sran (amarjeetsinghsran5@gmail.com) is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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