KUALA LUMPUR (April 3): The Securities Commission Malaysia (SC) has partnered with the Malaysian Communications and Multimedia Commission (MCMC) to step up efforts against the growing threat of online investment scams exploiting digital platforms and communication technologies.
The partnership builds on a prior engagement between the two agencies in March 2025, with efforts since then focused on accelerating the removal of scam-related content. In 2024 and 2025, the SC — with MCMC’s assistance — blocked or suspended 328 websites, 388 Telegram accounts and 60 telephone numbers.
Communications Minister Datuk Fahmi Fadzil said a meeting will be convened in the near term to chart the way forward and outline follow-up actions to ensure a safer communications and banking ecosystem, and to combat scam-related crimes in a more structured, coordinated and comprehensive manner.
He said such scams — ranging from unauthorised investment advertisements and identity misuse across social media platforms to the abuse of network facilities for fraudulent activities — are offences under Section 233 of the Communications and Multimedia Act. He stressed that these crimes affect not only the general public but also high-value individuals in public service.
“We expect this collaboration to further strengthen coordination between the SC and MCMC, as well as with other agencies, including the Attorney General’s Chambers, the Criminal Investigation Department, and the Commercial Crime Investigation Department at Bukit Aman, alongside Bank Negara Malaysia via the National Scam Response Centre (NSRC),” he told reporters after witnessing the signing of a memorandum of understanding between the SC and MCMC on Friday.
Deputy Finance Minister Liew Chin Tong, who was also present, highlighted the scale of the problem, noting that Malaysians lost RM2 billion to scams in 2025 alone. The trend remains worrying, with RM200 million in losses already recorded in January and February 2026.
SC chairman Datuk Mohammad Faiz Azmi said the agreement marks a key step in safeguarding retail investors and preserving market integrity.
“By combining our expertise, the SC and MCMC can respond more effectively to emerging threats, enhance safeguards, and raise public awareness against financial fraud and unlicensed investments,” he said.