KUALA LUMPUR (Jan 20): Jobseekers in Malaysia are increasingly targeted by emerging scams, including in cryptocurrency task fraud and money mule schemes, according to hiring portal Jobstreet.

On its platform, more than 1,400 high-risk hirers were identified and blocked during its onboarding process, Jobstreet by SEEK Ltd said in a statement. The platform has also removed over 1,200 fraudulent advertisements based on its own checks and verified community reports, it said.

“This exploitation not only causes financial harm but also discourages victims from continuing their job search,” managing director Nicholas Lam said. “Raising awareness and promoting vigilance are essential to countering these scams effectively.”

Between July 2023 and June 2024, Jobstreet scanned 4.9 million job advertisements, and about 10% were flagged for further review to ensure legitimacy.

In task fraud, scammers prey on individuals seeking remote work opportunities promising payments in cryptocurrency for simple tasks such as surveys or data entry. A victim would be asked to make an upfront payment or purchase cryptocurrency to gain access to these tasks.

However, “this payment is deceptively positioned as a necessary step to unlock earning potential", said Jobstreet, and scammers leave victims without the promised tasks or compensation once the payment is made.

In money mule scams, individuals, often unknowingly, are recruited to transfer illicit funds under the guise of legitimate job opportunities. Fraudsters post fake job advertisements offering high pay for minimal work, such as managing payments.

"After accepting the job, victims find themselves receiving funds into their accounts, usually from illegal sources,” Jobstreet said. “They are instructed to withdraw a portion of the money and transfer the remainder to another account, often in exchange for a commission.”

Other emerging scams flagged include the identity theft scams where fraudsters use fake job postings to collect sensitive personal information from unsuspecting applicants. Scammers then misuse information, including to open bank accounts or apply for loans in the victim’s name.

Jobstreet also warned of scammers targeting individuals through messaging platforms like WhatsApp, phone calls, and social media chats with pretexts such as offering high-paying jobs, claiming that a resume has been approved, or promising earnings from sharing links.

Victims are often directed to unofficial platforms where scammers attempt to collect personal information or request actions outside legitimate job application processes.

Job hunters are advised to thoroughly research companies before applying for positions to verify their legitimacy, Jobstreet said, adding that seekers should avoid any opportunities that require upfront payments.